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An article is sold at a profit of 32%. If the cost price is increased by 20% and the sale price remains the same, then the profit percentage becomes
- a)10%
- b)12%
- c)15%
- d)20%
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
An article is sold at a profit of 32%. If the cost price is increased ...
Let the original cost price be Rs ‘x’
Profit = 32% of cost price
∴ Selling price = Cost price + Profit = 1.32x
New cost price = (100 + 20)/100 × x = 1.2x
New profit = Selling price - cost price
⇒ 1.32x - 1.2x = 0.12x
∴ Profit% = 0.12x/1.2x × 100 = 10%
Profit = 32% of cost price
∴ Selling price = Cost price + Profit = 1.32x
New cost price = (100 + 20)/100 × x = 1.2x
New profit = Selling price - cost price
⇒ 1.32x - 1.2x = 0.12x
∴ Profit% = 0.12x/1.2x × 100 = 10%
Most Upvoted Answer
An article is sold at a profit of 32%. If the cost price is increased ...
Explanation:
In order to solve this problem, we first need to understand how profit percentage is calculated.
Profit Percentage Formula:
Profit Percentage = (Profit / Cost Price) x 100
Given Data:
Profit Percentage = 32%
Increase in Cost Price = 20%
Calculating the Original Cost Price:
Let the original cost price be x.
Profit = 32% of x = 0.32x
Selling Price = Cost Price + Profit = x + 0.32x = 1.32x
Calculating the New Cost Price:
New Cost Price = Original Cost Price + 20% of Original Cost Price
New Cost Price = x + 0.2x = 1.2x
Calculating the New Profit:
New Profit = Selling Price - New Cost Price
New Profit = 1.32x - 1.2x = 0.12x
Calculating the New Profit Percentage:
New Profit Percentage = (New Profit / New Cost Price) x 100
New Profit Percentage = (0.12x / 1.2x) x 100 = 10%
Therefore, the profit percentage becomes 10% when the cost price is increased by 20% and the sale price remains the same. So, the correct answer is option 'A'.
In order to solve this problem, we first need to understand how profit percentage is calculated.
Profit Percentage Formula:
Profit Percentage = (Profit / Cost Price) x 100
Given Data:
Profit Percentage = 32%
Increase in Cost Price = 20%
Calculating the Original Cost Price:
Let the original cost price be x.
Profit = 32% of x = 0.32x
Selling Price = Cost Price + Profit = x + 0.32x = 1.32x
Calculating the New Cost Price:
New Cost Price = Original Cost Price + 20% of Original Cost Price
New Cost Price = x + 0.2x = 1.2x
Calculating the New Profit:
New Profit = Selling Price - New Cost Price
New Profit = 1.32x - 1.2x = 0.12x
Calculating the New Profit Percentage:
New Profit Percentage = (New Profit / New Cost Price) x 100
New Profit Percentage = (0.12x / 1.2x) x 100 = 10%
Therefore, the profit percentage becomes 10% when the cost price is increased by 20% and the sale price remains the same. So, the correct answer is option 'A'.
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An article is sold at a profit of 32%. If the cost price is increased by 20% and the sale price remains the same, then the profit percentage becomesa)10%b)12%c)15%d)20%Correct answer is option 'A'. Can you explain this answer?
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