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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%
- c)100%
- d)250%
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
In a certain store, the profit is 320% of the cost. If the cost increa...
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 = (295/420 × 100) %
= (1475/21) % = 70% (approximately).
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 = (295/420 × 100) %
= (1475/21) % = 70% (approximately).
Most Upvoted Answer
In a certain store, the profit is 320% of the cost. If the cost increa...
Given:
- Profit is 320% of the cost.
To find:
- The percentage of the selling price that is the profit when the cost increases by 25% but the selling price remains constant.
Solution:
Let's assume the cost price of an item is $100.
According to the given information, the profit is 320% of the cost. Therefore, the profit is 320/100 * $100 = $320.
Now, let's calculate the selling price. The selling price is the sum of the cost price and the profit. So, the selling price is $100 + $320 = $420.
Case 1: Cost increases by 25%
If the cost increases by 25%, the new cost price will be 100 + (25/100 * 100) = $125.
Since the selling price remains constant at $420, the profit can be calculated by subtracting the new cost price from the selling price.
Profit = Selling Price - Cost Price
Profit = $420 - $125
Profit = $295
Case 2: Percentage of the selling price that is the profit
To find the percentage of the selling price that is the profit, we divide the profit by the selling price and multiply by 100.
Percentage of profit = (Profit / Selling Price) * 100
Substituting the values, we get:
Percentage of profit = ($295 / $420) * 100
Percentage of profit ≈ 70%
Therefore, the percentage of the selling price that is the profit when the cost increases by 25% but the selling price remains constant is approximately 70%. Hence, the correct answer is option 'B'.
- Profit is 320% of the cost.
To find:
- The percentage of the selling price that is the profit when the cost increases by 25% but the selling price remains constant.
Solution:
Let's assume the cost price of an item is $100.
According to the given information, the profit is 320% of the cost. Therefore, the profit is 320/100 * $100 = $320.
Now, let's calculate the selling price. The selling price is the sum of the cost price and the profit. So, the selling price is $100 + $320 = $420.
Case 1: Cost increases by 25%
If the cost increases by 25%, the new cost price will be 100 + (25/100 * 100) = $125.
Since the selling price remains constant at $420, the profit can be calculated by subtracting the new cost price from the selling price.
Profit = Selling Price - Cost Price
Profit = $420 - $125
Profit = $295
Case 2: Percentage of the selling price that is the profit
To find the percentage of the selling price that is the profit, we divide the profit by the selling price and multiply by 100.
Percentage of profit = (Profit / Selling Price) * 100
Substituting the values, we get:
Percentage of profit = ($295 / $420) * 100
Percentage of profit ≈ 70%
Therefore, the percentage of the selling price that is the profit when the cost increases by 25% but the selling price remains constant is approximately 70%. Hence, the correct answer is option 'B'.
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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%c)100%d)250%Correct answer is option 'B'. Can you explain this answer?
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