A shopkeeper sold an article at \(\frac{5}{6}\)th of the MRP and suffered a loss of 3\(\frac{1}{3}\)%. Find the profit if he sold the article at MRP.
Answer & explanation
Correct answer: option 1
ATQ,
M.P. : S.P. = 6 : 5 @ \(\frac{5}{6}\) of M.P.
C.P. : S.P. = 30 : 29 @3\(\frac{1}{3}\)% loss
C.P. : S.P. : M.P.
30 : 29
5 : 6
150 : 145 : 174
C.P. = 150
M.P. = 174
Profit if sold at M.P. = 174 - 150 = 24
Profit percent = \(\frac{24}{150}\) × 100 = 16%