In a certain store, the profit is 320% of the cost. If the cost increases by 25%

Question

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?

Options:

A . 30%

B . 70%

C . 100%

D . 250%

Answer: Option B

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.

So, Required percentage = \(\left(\frac{295}{420}\times100\right)\) % = \(\frac{1475}{21}\) % = 70% (approximately).

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