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In a store, the shopkeeper sells at a profit percentage of 240%. Due to inflation, the cost price is increased by 30% while the selling price remains the same. In the new scenario, what percentage of the selling price is the profit ?
  • a)
    63.76%
  • b)
    62.76%
  • c)
    61.76%
  • d)
    60.76%
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
In a store, the shopkeeper sells at a profit percentage of 240%. Due t...
Let CP = 100
Profit = 240% of 100 = 240
SP = CP+profit = 100+240 = 340
If CP is increased by 30%,
New CP = 130
New SP = Unchanged = 340
Profit = 340 - 130 = 210/-

So the answer is option C.
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Most Upvoted Answer
In a store, the shopkeeper sells at a profit percentage of 240%. Due t...
Understanding the Initial Scenario
- Let's denote the cost price (CP) as 100.
- With a profit percentage of 240%, the selling price (SP) can be calculated as:
- SP = CP + Profit
- Profit = 240% of CP = 2.4 * CP = 2.4 * 100 = 240
- Therefore, SP = 100 + 240 = 340.
Adjusting for Inflation
- Now, due to inflation, the cost price increases by 30%.
- The new cost price (CP') becomes:
- CP' = CP + 30% of CP = 100 + 30 = 130.
Calculating the New Profit
- The selling price remains unchanged at 340.
- The new profit can be determined as:
- New Profit = SP - CP' = 340 - 130 = 210.
Finding the New Profit Percentage
- To find the new profit percentage relative to the selling price, we use the formula:
- Profit Percentage = (Profit / SP) * 100
- Profit Percentage = (210 / 340) * 100.
Performing the Calculation
- Calculate (210 / 340) * 100:
- Profit Percentage = 0.6176 * 100 = 61.76%.
Conclusion
- Thus, the new profit as a percentage of the selling price is 61.76%.
- Therefore, the correct answer is option C.
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In a store, the shopkeeper sells at a profit percentage of 240%. Due to inflation, the cost price is increased by 30% while the selling price remains the same. In the new scenario, what percentage of the selling price is the profit ?a)63.76%b)62.76%c)61.76%d)60.76%Correct answer is option 'C'. Can you explain this answer?
Question Description
In a store, the shopkeeper sells at a profit percentage of 240%. Due to inflation, the cost price is increased by 30% while the selling price remains the same. In the new scenario, what percentage of the selling price is the profit ?a)63.76%b)62.76%c)61.76%d)60.76%Correct answer is option 'C'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about In a store, the shopkeeper sells at a profit percentage of 240%. Due to inflation, the cost price is increased by 30% while the selling price remains the same. In the new scenario, what percentage of the selling price is the profit ?a)63.76%b)62.76%c)61.76%d)60.76%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a store, the shopkeeper sells at a profit percentage of 240%. Due to inflation, the cost price is increased by 30% while the selling price remains the same. In the new scenario, what percentage of the selling price is the profit ?a)63.76%b)62.76%c)61.76%d)60.76%Correct answer is option 'C'. Can you explain this answer?.
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