The cost price of an article is Rs. 1200 and selling price is 5/4 times of its cost price. Find: (i) selling price of the article (ii) profit or loss as percent.
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Cost price (C.P.)= Rs. 1200
∴ S.P. = 5/4 of C.P.
= 5/4 × 1200
= Rs. 1500
∴ Gain = S.P. – C.P.
= Rs. 1500 – Rs. 1200
= Rs. 300
∴ Gain % = (gain × 100)/C.P.
= (300 × 100)/1200
= 25%
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