Multiple choice

If the cost price of a table is 62% of the selling price, then what is the profit percentage?

  1. 43.42%

  2. 37.45%

  3. 61.29%

  4. 71.35%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

If CP = 0.62 * SP, then profit = SP - CP = SP - 0.62 * SP = 0.38 * SP. Profit percentage = (Profit / CP) * 100 = (0.38 * SP / 0.62 * SP) * 100 = (38 / 62) * 100 = 61.29%.

AI explanation

Let the selling price be Rs. 100, which means the cost price is 62% of it, or Rs. 62. Using the profit percentage formula, ((Selling Price - Cost Price) / Cost Price) multiplied by 100, the profit is Rs. 38. Therefore, (38 / 62) multiplied by 100 gives a profit of 61.29%.

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