Select the correct answerFor an article the profit is 170% of the cost price. If the cost price increase by 20% but the selling price remains same, then what is the new profit percentage?Options125755041
Question
Select the correct answerFor an article the profit is 170% of the cost price. If the cost price increase by 20% but the selling price remains same, then what is the new profit percentage?Options125755041
Solution
Sure, let's solve this step by step:
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Let's assume the cost price (CP) of the article is 170.
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Now, if the cost price increases by 20%, the new CP would be $120.
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However, the selling price remains the same, which is $170.
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The profit is calculated as SP - CP. So, the new profit would be 120 = $50.
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The profit percentage is calculated as (Profit/CP)*100. So, the new profit percentage would be (120)*100 = 41.67%.
So, the correct answer is 41.
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