Choose the correct option. On selling a t-shirt at five-seventh of its marked price, the store earns 15% profit. What is the profit earned if the t-shirt is sold at its marked price? Options 20% 40% 61% 39%
Question
Choose the correct option. On selling a t-shirt at five-seventh of its marked price, the store earns 15% profit. What is the profit earned if the t-shirt is sold at its marked price? Options
20%
40%
61%
39%
Solution
The correct option is 40%.
Here's the step-by-step solution:
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Let's assume the cost price of the t-shirt is $100.
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If the store earns a 15% profit by selling the t-shirt at five-seventh of its marked price, then the selling price is $115.
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Therefore, the marked price of the t-shirt is 161.
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If the t-shirt is sold at its marked price, the profit earned is 100 = $61.
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The profit percentage is therefore (100) * 100 = 61%.
However, the options provided do not include 61%. This suggests there may be an error in the question or the provided options.
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