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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%

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Solution

The correct option is 40%.

Here's the step-by-step solution:

  1. Let's assume the cost price of the t-shirt is $100.

  2. 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.

  3. Therefore, the marked price of the t-shirt is 115/(5/7)=115 / (5/7) = 161.

  4. If the t-shirt is sold at its marked price, the profit earned is 161161 - 100 = $61.

  5. The profit percentage is therefore (61/61 / 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.

This problem has been solved

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