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An article was sold at 65% of its marked...

An article was sold at 65% of its marked price, and thus there was a gain of 30%. Find the ratio of the marked price to cost price.

A

`3:2`

B

`4:3`

C

`2:1`

D

`3:1`

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to find the ratio of the marked price (MP) to the cost price (CP) given that an article was sold at 65% of its marked price and there was a gain of 30%. ### Step-by-step Solution: 1. **Assume the Marked Price (MP)**: Let's assume the marked price of the article is \( MP = 100 \). 2. **Calculate the Selling Price (SP)**: The article was sold at 65% of the marked price. Therefore, the selling price can be calculated as: \[ SP = 65\% \text{ of } MP = 0.65 \times 100 = 65 \] 3. **Understand the Gain**: We know that there was a gain of 30%. This means that the selling price is 130% of the cost price (CP). Therefore, we can express this as: \[ SP = CP + 30\% \text{ of } CP = CP + 0.30 \times CP = 1.30 \times CP \] 4. **Set Up the Equation**: Now we can set the selling price equal to the expression involving the cost price: \[ 65 = 1.30 \times CP \] 5. **Solve for Cost Price (CP)**: To find the cost price, we can rearrange the equation: \[ CP = \frac{65}{1.30} \] Calculating this gives: \[ CP = \frac{65}{1.30} = 50 \] 6. **Find the Ratio of Marked Price to Cost Price**: Now that we have both the marked price and the cost price, we can find the ratio: \[ \text{Ratio of MP to CP} = \frac{MP}{CP} = \frac{100}{50} = 2 \] Thus, the ratio of the marked price to the cost price is: \[ \text{Ratio} = 2 : 1 \] ### Final Answer: The ratio of the marked price to the cost price is \( 2 : 1 \).
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