Multiple choice

If the cost price of an article is 67 % of the selling price, what is the profit percent?

  1. 49.25%

  2. 41.25%

  3. 47.25%

  4. 43.25%

  5. 44.25%
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A Correct answer
Explanation

If CP = 0.67 * SP, then SP = CP / 0.67. Profit = SP - CP = (CP / 0.67) - CP = CP * (1/0.67 - 1) = CP * (0.33 / 0.67). Profit percent = (0.33 / 0.67) * 100 which is approximately 49.25%.

AI explanation

Let the selling price be 100, making the cost price 67. The profit is 100 minus 67 which equals 33. Using the profit percentage formula of (profit divided by cost price) times 100, we get (33 divided by 67) times 100, which equals approximately 49.25 percent.

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