Question : The cost price of a notebook is INR 120. It is sold at a profit of 40%. What is the nominal profit made on the sale of each notebook?
Option 1: INR 36
Option 2: INR 48
Option 3: INR 24
Option 4: INR 40
Correct Answer: INR 48
Solution :
Cost price of a notebook = INR 120
Profit percentage = 40%
Selling price = $\frac{100 + \text{Profit percentage}}{100}\times$ Cost price
= $\frac{100+40}{100}\times120$
= $\frac{140}{100}\times120$
= INR 168
Nominal profit made on the sale of each notebook = Selling Price – Cost Price
So, the nominal profit = 168 – 120 = INR 48
Hence, the correct answer is INR 48.
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