Question : A helmet is sold for INR 1,650 at a profit of 10%. If the selling price is INR 2,100, then what will be the profit percentage?
Option 1: 30%
Option 2: 25%
Option 3: 40%
Option 4: 60%
Correct Answer: 40%
Solution :
Profit% = $\frac{\text{Selling Price-Cost Price}}{\text{Cost Price}}\times 100$
Let's denote the cost price of the helmet as CP
helmet is sold for INR 1,650 at a profit of 10%
⇒ Selling Price = Cost Price + Profit = 1,650 = CP + 0.10 × CP
⇒ 1,650 = 1.10 × CP
⇒ CP = $\frac{1650}{1.10}$ = 1500
The selling price is INR 2,100
Profit = Selling Price − Cost Price = 2,100 − 1,500 = 600
Profit Percentage = $\frac{600}{1500}$ × 100 = 40%
Hence, the correct answer is 40%.
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