The cost price of milk is increased to ₹62 from ₹60. The milkman sold milk at 10% profit earlier. What is his profit% now if he sells milk at the same rate?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 6.45%.
Original CP = 60 per liter
Original SP = 60 × (110/100) = 66 per liter
New CP = 62 per liter
New profit amount = 66 - 62 = 4
New profit percentage = (4/62) × 100 = 6.45% (approx)