Question

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%
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Answer 1

answer:- 70%

Lets assume initial cost price (CP) is 100.

The profit (P) is 320 (320% of 100 is 320)

Selling Price (SP) is CP +P. So SP must be 420

Now CP increases by 25%. So new cost price (CP1) is 125.

SP remains constant at 420

New profit (P1) is SP - CP1 = 295

P1 as a percentage of SP is (295/420) x 100 = 70%

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Answer 2

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295.

= 295/420 x 100%

= 70%