If the cost price of an article is 5/8 of its selling price, then what is the profit percentage?

a) 45 percent
b) 75 percent
c) 30 percent
d) 60 percent

Answer : d) 60 percent

SSC Constable GD Paper : Elementary Mathematics

Solution

Let the selling price (SP) of the article be ( x ). The cost price (CP) is given as 5/8 of the selling price. Therefore:

CP = $ \frac{5}{8} \times x = \frac{5x}{8} $

The profit is the difference between the selling price and the cost price:
Profit = SP – CP = $ x – \frac{5x}{8} = \frac{8x – 5x}{8} = \frac{3x}{8} $

The profit percentage is calculated as:
Profit Percentage = $ \frac{\text{Profit}}{\text{CP}} \times 100 = \frac{\frac{3x}{8}}{\frac{5x}{8}} \times 100 = \frac{3}{5} \times 100 = 60\% $

Thus, the profit percentage is 60%.