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Home Aptitude Profit and Loss See What Others Are Saying!
  • Question
  • If the labour cost 20% of the cost of production and raw material cost 10% of the cost of production and the price on which article is sold is 20% above the cost of production. If the price of labour is increased by 40% and the price of raw material increased by 20% and rest other expenditure of cost remain constant. The industry thus decide to increase the selling price by 10%. Find the new profit percent ?


  • Options
  • A. 18%
  • B. 20%
  • C. 22%
  • D. 24%

  • Correct Answer
  • 20% 

    Explanation

    Let the Cost of Production of the article = 100

    Then, Labour Cost = 20

    Raw Material = 10

    Other Expenditure = 100 - 10 ? 20 = 70

    Selling Price of the article  = 120

    After increasing Labour and Raw material cost by 40% & 20% respectively,

    New Labour cost = 28

    New Raw material cost = 12

    New Cost of Production = 70 + 28 + 12 = 110

    Then, New SP = 110% of 120 = 120 x 110/100 = 132

    => New Gain = 132 - 110 = 22

    => New Profit % = 22 x 100/110 = 20%

  • Tags: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO

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