Case A: In a certain store, the profit is 340% of the cost.
Case B: If the cost increases by 32% but the selling price remains constant, approximately
what percentage of the selling price is the profit in case A?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 70%
Let the cost price is 100.
So,
Case A:
Selling price = Cost price + profit
Selling Price = 100 + 340% of 100 = 440
Case B:
Cost Price = 100 + 32% of 100 = 132
Profit = 440 - 132 = 308
Required percentage = (308/440) × 100 = 70%