Question 1
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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% Correct
- C 100%
- D 250%
Correct Answer: Option B
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.
 Required percentage = |
 |
295 | x 100 |  % |
= | 1475 | % |
| 420 | 21 |
= 70% (approximately).
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