When an article is sold at \(\frac{7}{8}\) of the its selling price, there is a loss of 37%. What will be the profit percent, when the same article is sold at \(\frac{19}{12}\) of its selling price?
Answer & explanation
Correct answer: option 3
Let the selling price = z
New SP = \(\frac{7}{8}\)Z
CP = \(\frac{7}{8}\)Z × \(\frac{100}{63}\)
= \(\frac{25}{18}\)Z
Now, If it is sold for \(\frac{19}{12}\) of its SP
Now SP = \(\frac{19}{12}\)Z
Profit % = \(\frac{(\frac{19}{12}Z - \frac{25}{18}Z)}{\frac{25}{18}Z}\) x 100
Profit % = \(\frac{7}{36}\)Z × \(\frac{18}{28}\)Z x 100 = 14%