Question : If the cost price is 40% of the selling price, then what is the profit percent?
Option 1: 50%
Option 2: 200%
Option 3: 100%
Option 4: 150%
Correct Answer: 150%
Solution :
Let be the cost price as $C$ and the selling price as $S$
Now, cost price = 40% of $S$
⇒ $C$ = 0.04 × $S$
⇒ Profit = $S$ − $C$ = $S - 0.40 × S$
⇒ Profit = $S − 0.40 × S$ = 0.60 × $S$
⇒ Profit Percentage = $\frac{\text{Profit}}{\text{Cost Price}}$ × 100
= $\frac{\text{0.60 × S}}{\text{0.40 × S}}$×100
= $\frac{0.60}{0.40}$ × 100
= 1.5 × 100
= 150%
Hence, the correct answer is 150%.
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