Profit and Loss Practice Test 1

Question : 17 of 40

Marks: +1, -0

A shopkeeper placed on display some shirts each with a marked price. He then posted a board reading ‘1/4 off on shirts’. If the cost of one shirt was 2/3 of the price at which it was actually sold, the ratio of the cost and the marked price of a shirt was:

1 : 2
1 : 3
2 : 3
3 : 4

Validate

Solution:

Let the marked price = x
Discount =

1/4

of x =

x/4

SP of the shirt

=x-x/4=3/4x

Cost price of the shirt =

2/3

of SP

=2/3×3/4x=x/2

Ratio of cost price to marked price

=x/2:x=1/2:1=1:2

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