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Profit and Loss - General Aptitude

Q1:

In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

A 30%

B 70%

C 100%

D 250%

ANS:B - 70%

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420. New C.P. = 125% of Rs. 100 = Rs. 125 New S.P. = Rs. 420. Profit = Rs. (420 - 125) = Rs. 295.

 Required percentage = 295 x 100 % = 1475 % = 70% (approximately).
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