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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%
- e)85%
Correct answer is option 'B'. Can you explain this answer?
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In a certain store, the profit is 320% of the cost. If the cost increa...
Let the initial cost is Rs 100
Most Upvoted Answer
In a certain store, the profit is 320% of the cost. If the cost increa...
Given:
- Profit = 320% of the cost
- Cost increases by 25%
- Selling price remains constant
To find:
Approximately what percentage of the selling price is the profit?
Solution:
Let's assume the cost price of the item is $100.
The profit will be 320% of $100, which is $320.
Now, the cost increases by 25%, which means the new cost price will be:
$100 + (25/100) * $100 = $125
However, the selling price remains constant, so the selling price will still be $100.
Now, let's calculate the new profit:
Profit = Selling Price - Cost Price
Profit = $100 - $125 = -$25
Here, we can see that the profit is negative, which means there is a loss of $25.
To find the percentage of the profit with respect to the selling price, we can use the formula:
Percentage = (Profit / Selling Price) * 100
Let's calculate the percentage:
Percentage = (-$25 / $100) * 100 = -25%
Since the profit is negative, we can take the absolute value and ignore the negative sign.
So, the percentage of the profit with respect to the selling price is 25%.
However, none of the answer choices match this result.
Therefore, the given answer choices are incorrect or incomplete.
- Profit = 320% of the cost
- Cost increases by 25%
- Selling price remains constant
To find:
Approximately what percentage of the selling price is the profit?
Solution:
Let's assume the cost price of the item is $100.
The profit will be 320% of $100, which is $320.
Now, the cost increases by 25%, which means the new cost price will be:
$100 + (25/100) * $100 = $125
However, the selling price remains constant, so the selling price will still be $100.
Now, let's calculate the new profit:
Profit = Selling Price - Cost Price
Profit = $100 - $125 = -$25
Here, we can see that the profit is negative, which means there is a loss of $25.
To find the percentage of the profit with respect to the selling price, we can use the formula:
Percentage = (Profit / Selling Price) * 100
Let's calculate the percentage:
Percentage = (-$25 / $100) * 100 = -25%
Since the profit is negative, we can take the absolute value and ignore the negative sign.
So, the percentage of the profit with respect to the selling price is 25%.
However, none of the answer choices match this result.
Therefore, the given answer choices are incorrect or incomplete.
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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%e)85%Correct answer is option 'B'. Can you explain this answer?
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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%e)85%Correct answer is option 'B'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about 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%e)85%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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%e)85%Correct answer is option 'B'. Can you explain this answer?.
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