The selling price of a jacket is 7/5 of its cost price. What is the profit percentage?
Correct answer B. 40%
Explanation
Profit = 7/5 - 1 = 2/5 of the cost price. Profit% = 2/5 × 100 = 40%. Dividing 2 by 7 gives the profit as a share of SP, not CP.
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