In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
A. 30%
B. 70%
C. 100%
D. 250%
Answer: Option B
Solution(By Examveda Team)
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420
Profit = Rs. (420 - 125) = Rs. 295
∴ Required percentage
$$\eqalign{ & = \left( {\frac{{295}}{{420}} \times 100} \right)\% \cr & = \frac{{1475}}{{21}}\% \cr & = 70\% \,\left( {{\text{approximately}}} \right) \cr} $$
This Question Belongs to Arithmetic Ability >> Profit And Loss
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