Discussion
In a certain store, the profit is \(320\) % of the cost. If the cost increases by \(25\) % but the selling price remains constant, approximately what percentage of the selling price is the profit?
Answer: B
Let Cost price \(= Rs. 100.\) Then, Profit \(= Rs. 320\)
Selling price \(= Rs. 420.\)
New Cost price \(= 125\)% of \(Rs. 100 = Rs. 125\)
New Selling price \(= Rs. 420.\)
Profit \(= Rs. (420 - 125) = Rs. 295.\)
\(\therefore\) Required percentage \(= (\frac{295}{420} \times 100)\)% \(= \frac{1475}{21}\)% \(= 70\)%(approximately)
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