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In a certain store, the profit is 320% of the cost, If the cost increase by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit ?1. 70%2. 80%3. 250%4. 50% |
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Answer» Correct Answer - Option 1 : 70% Given The profit percentage = 320% of CP Formula Used Profit% = (Profit/CP) × 100 Calculation Let the cost price be 100x so, Profit = 320% of 100x = 320x then, selling price = 420x Now, cost price increased by 25% New, Cost price = 125x New Profit = 420x - 125x = 295x Profit percent on selling price = (295x/420x) × 100 = 70% ∴ The required percentage is 70%
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