Question : In an article, the profit is 210% of the cost price. If the cost price increases by 40% but the selling price remains constant, approximately what per cent of the selling price will be the profit?
Option 1: 55%
Option 2: 62%
Option 3: 74%
Option 4: 85%
Correct Answer: 55%
Solution :
Here, SP is the selling price and CP is the cost price.
Let CP be Rs. 100.
Profit = 210% of 100 = 210
SP = CP + Profit = Rs. 310
Now CP has increased by 40%.
$\therefore$ New CP = Rs. 140
But SP remains constant.
$\therefore$ New Profit = Rs. (310 – 140) = Rs. 170
Now, profit percentage to SP $=\frac{\text{Profit}}{\text{SP}}⨯ 100= \frac{170}{310}⨯100= 54.84 \approx 55\%$
Hence, the correct answer is 55%.
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