Profit and Loss Practice Test 2

Question : 31 of 40

Marks: +1, -0

In a certain store, the profit is 320% of the cost price. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

40%
70%
90%
120%

Validate

Solution:

Let C.P. = Rs. 100, then profit = Rs. 320,
Since, S.P. = 100 + 320 = Rs. 420
Now, when C.P. = Rs. 125, then S.P. = Rs. 420
Since, profit = 420 – 125 = Rs. 295
Hence, required percentage

=295/420×100=1475/21=70%

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