What will be the actual profit percentage (rounded off to nearest integer) after selling an article at a certain price, while there occurs a loss of 45% on selling the article at $\frac{3}{8}$ of the selling price?
Answer & explanation
Correct answer: option 3
Loss = 45%
Selling the article at $\frac{3}{8}$ of the selling price means = $\frac{SP \; after 45% \; loss}{Actual \; SP}$
3 = 55% of the CP
100% of the CP = 5.45
So the profit when selling price = 8
Profit% = \(\frac{(8 - 5.45) × 100}{5.45}\) = 47 Percent