If the selling price of 7 articles is equal to the cost price of 8 articles, then what is the profit percentage (correct to one decimal place)?
- AOption (a)
15.4%
- BOption (b)
14.3%
- COption (c)
13.9%
- DOption (d)
11.7%
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Correct answer
14.3%
Why this answer is correct
The correct answer is 14.3% Key Points
Let the Cost Price (CP) of one article be CP and the Selling Price (SP) of one article be SP. The problem states that the Selling Price of 7 articles is equal to the Cost Price of 8 articles. This gives us the equation: 7 × SP = 8 × CP. To find the relationship between SP and CP, we rearrange the equation: SP / CP = 8 / 7. From this ratio, we can assume the Cost Price (CP) is 7 units and the Selling Price (SP) is 8 units. The Profit is calculated as: Profit = SP − CP = 8 − 7 = 1 unit. The Profit Percentage formula is: (Profit / Cost Price) × 100. Substituting the values: Profit Percentage = (1 / 7) × 100. Performing the division: 100 ÷ 7 = 14.2857...%. Rounding the value to one decimal place as requested, we get 14.3%. Thus, Option 2 is the correct choice.
Additional Information
Cost Price (CP): The price at which an article is purchased. Selling Price (SP): The price at which an article is sold. Profit: If SP > CP, the difference is called profit. Profit = SP − CP. Loss: If CP > SP, the difference is called loss. Loss = CP − SP. The Profit Percentage or Loss Percentage is always calculated on the Cost Price (CP) unless mentioned otherwise in the question. Fractions to percentages: 1/7 ≈ 14.28%, 1/8 = 12.5%, 1/9 ≈ 11.11%. Memorizing these common conversions is helpful for quantitative aptitude exams.



