Multiple choice

For an article the profit is 190% of the cost price. If the cost price increase by 10% but the selling price remains same, then profit is what percentage of selling price (approximately)?

  1. 54

  2. 62

  3. 70

  4. 163

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let cost price be 100, so profit is 190 and selling price is 290. If cost price increases by 10% to 110, the new profit is 290 - 110 = 180. The new profit percentage of selling price is (180/290)*100, which is approximately 62.06%.

AI explanation

Assume the initial cost price is 100, making the original selling price 290 because the profit is 190% of the cost price. If the cost price increases by 10%, the new cost price becomes 110, while the selling price remains 290, creating a new profit of 180. To find what percentage this profit is of the selling price, divide 180 by 290 and multiply by 100, which results in approximately 62.

Keep practicing — related questions