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

70%
80%
90%
None of above

Correct Answer: 70%

Explanation:

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
Required percentage = (295/420) * 100
= 70%(approx)

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