Maths · Probability: Probability of an event, addition and multiplication theorems of probability
In a certain store, the profit is of the cost. If the cost increases by but the
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?
- A. \( 30 \% \)
- B. \( 100 \% \)
- C. 70 \% \)
- D. 250\%
Step-by-step solution
Let cost be C. Profit = 320% of C = 3.2C. Selling price = C + 3.2C = 4.2C. New cost = C + 25% of C = 1.25C. New profit = 4.2C - 1.25C = 2.95C. Profit percentage of selling price = (2.95C / 4.2C) * 100% = (2.95/4.2)*100% ≈ 70.24% ≈ 70%.
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