In a certain Business, the profit is 220% 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 ?

Correct Answer: 61%

Explanation:

Let C.P.= Rs. 100.

Then, Profit = Rs.220,

S.P. = Rs.320.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs.320.

Profit = Rs. (320 - 125) = Rs. 195

Required percentage = $\frac{195}{320} \times 100$ == 60.9 =~ 61%

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