Question : Directions: A book that costs INR 40 is sold for 25% profit. If the cost of the book is increased by 10% and the profit percentage remains the same, what would be the new selling price of the same book?
Option 1: INR 55
Option 2: INR 58
Option 3: INR 52
Option 4: INR 48
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Correct Answer: INR 55
Solution :
Given:
The cost of the book = INR 40
The book which costs INR 40 is sold for 25% profit.
Thus, the actual cost of the book + 25% profit of the book
= 40 + (40 + 25) ÷ 100
= 40 + 10
= 50
The actual cost of the book with 25% = INR 50
Now, if the cost of the book is increased by 10% and the profit percentage remains the same,
The new selling price of the book = The actual cost of the book with 25% profit + Cost of the book is increased by 10%
New selling price = 50 + {(50 × 10) ÷ 100}
New selling price = 50 + 5
New selling price = INR 55
So, the new selling price of the book is INR 55. Hence, the first option is correct.
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