Solve this multiple-choice question and choose the correct option.

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 ?

60%
50%
70%
45%

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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