A man sells goods at a certain price, 20% of which is his profit. If the price at which he buys the goods increases by 10% and he sells them at an 12.5% higher price, then what will be his profit percent (correct to one decimal place)?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 22.7
→ 20% on SP
→ +25% on CP
100 → 125
110 → 135
+25%
= (25/110) × 100 = 22.7%