Mohan bought an article at 25% less of the marked price and sold it at 15% more than the marked price. Find the profit earned by him.
Answer & explanation
Correct answer: option 1
Let, the market price of article be 100.
So, according to the question:
Cost price = 75 (25% less of marked price) and SP = 115 (15 % more of marked price)
Profit = Selling price - Cost price i.e. 115 - 75 = 40
Profit% = \(\frac{ 40}{75 }\) x 100 = 53.33%