If the cost price is 66% of the selling price, then what is the profit percentage (correct to 2 decimal places)?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 51.52%.
CP = 66% of SP = 66/100 × SP = 0.66 × SP
Assume Selling Price (SP) = ₹100
Then,
CP = 0.66 × 100 = ₹66
Profit = SP − CP = 100 − 66 = ₹34
Profit % = (Profit/CP) × 100 = (34/66) × 100 ≈ 51.52%