A mobile phone is sold at a profit of 80%. The nominal profit is approximate what percentage of the selling price of the mobile phone?
Show answer & explanation
Correct answer: C
Explanation
the correct answer is option 3 i.e 44.44%
Let's assume the cost price of a mobile phone is 100y
A mobile phone is sold at a profit of 80%.
Selling price of a mobile phone = 100y of (100 + 80)%
= 100y of 180%
= 100y × 180/100
= 180y
The nominal profit = 180y - 100y = 80y
Percentage = (80y/180y) × 100
= 44.44% (approx.)