The selling price of 7 articles is the same as the cost price of 4 articles. The gain or loss percent is:
Answer & explanation
Correct answer: option 3
ATQ,
⇒ S.P. of 7 = C.P. of 4
⇒ C.P. : S.P. = 7 : 4
⇒ Loss = 7 - 4 = 3
⇒ Loss percentage = \(\frac{3}{7}\) × 100 = 42\(\frac{6}{7}\)%