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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?Options755041125

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?Options755041125

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Solution

Sure, let's solve this step by step.

Step 1: Let's assume the cost price of the article is 100.So,thesellingpricewouldbe170100. So, the selling price would be 170% of the cost price, which is 170.

Step 2: Now, the cost price increases by 20%. So, the new cost price is $120.

Step 3: However, the selling price remains the same, which is $170.

Step 4: Now, we need to find the new profit percentage. The profit is the selling price minus the cost price, which is 170170 - 120 = $50.

Step 5: The profit percentage is calculated as (Profit/Cost price) * 100. So, the new profit percentage is (50/50/120) * 100 = 41.67%.

So, the correct answer from the given options is 41.

This problem has been solved

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