The ratio between the sale price and the cost price of an article is 7 : 4. What is the ratio between the profit and the cost price of the article?
Given:
The ratio between the sale price (SP) and the cost price (CP) of an article is 7 : 4.
Concept Used:
Profit = Selling Price − Cost Price
Solution:
Let the cost price (CP) be 4x, as given in the ratio.
The selling price (SP) will be 7x.
Profit = SP - CP = 7x - 4x = 3x.
Thus, the ratio between the profit and the cost price is 3 : 4.
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