The bar graph given below shows the cost price and selling price of four articles J, K, L and M.
The average cost price of J and K together is how much percent more than the average selling price of L and M together?
Answer & explanation
Correct answer: option 2
Average cost price of J & K = \(\frac{700 + 900}{2}\)
= \(\frac{1600}{2}\)
= 800
Average selling price of L & M = \(\frac{600 + 800}{2}\)
= 700
Required percentage = \(\frac{800 - 700}{700}\) × 100
= \(\frac{100}{700}\) × 100
= 14.28%