Question : The selling price of a plate is 140% of its cost price. What will be the profit percentage?
Option 1: 35%
Option 2: 28.57%
Option 3: 40%
Option 4: 25%
Correct Answer: 40%
Solution :
Given: The selling price = 140% of cost price
$\therefore$ $\frac{\text{selling price}}{\text{cost price}}=\frac{140}{100}$
Let the selling price and the cost price be $140x$ and $100x$ respectively.
So, the profit percentage = $\frac{\text{selling price - cost price}}{\text{cost price}}\times100$
= $\frac{140-100}{100}\times100$
= 40%
Hence, the correct answer is 40%.
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