The cost price and the marked price of an item are Rs. 720 and Rs. 900 respectively. When it is sold at a discount of x%, the profit is \(\frac{5x}{3}\%\). What is the value of x?
1
\(5\frac{5}{7}\)
2
\(7\frac{4}{7}\)
3
\(8\frac{4}{7}\)
4
\(5\frac{4}{7}\)