Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - General Questions (Q.No. 4)
4.
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: Option
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420 - 125) = Rs. 295.
 Required percentage = |
 |
295 | x 100 |  % |
= | 1475 | % = 70% (approximately). |
| 420 | 21 |
Video Explanation: https://youtu.be/bQA8SB8ycbw
Discussion:
147 comments Page 6 of 15.
Kishan chand said:
1 decade ago
The correct answer is 240%.
Thats because,
If you are buying of Rs. 125.
And solding it of Rs 425.
Now you calculate the percentage of profit.
Thats because,
If you are buying of Rs. 125.
And solding it of Rs 425.
Now you calculate the percentage of profit.
Asit said:
1 decade ago
@kishan chand your thought is absolutely correct, but the question is about percentage of only selling price, you are calculate it from the cost price. Now you understand or not?
Radha said:
1 decade ago
Very niceexplanation malini.
Mittalvarun2011 said:
1 decade ago
Thanks Nitesh and malini for such a nice explanation.
Merlin said:
1 decade ago
Why we are taking cp as 100?
In what cases we should assume in that way.
2. Why cannt we take that as x as in above sums.
In what cases we should assume in that way.
2. Why cannt we take that as x as in above sums.
Sagar khurd said:
1 decade ago
25% cp is 1250 how that value get.
Mohana said:
1 decade ago
How they have taken the C.P value = 100
even it gives change to assume any number like 1,2,3, etc.,
even it gives change to assume any number like 1,2,3, etc.,
Dinu said:
1 decade ago
@Mohana.
They have given profit%=320%. So to calculate profit we use the formula profit%= (profit*100) /C.P.
If you assume C.P=100 then always the profit% = profit for this simplicity we always assume C.P=100.
They have given profit%=320%. So to calculate profit we use the formula profit%= (profit*100) /C.P.
If you assume C.P=100 then always the profit% = profit for this simplicity we always assume C.P=100.
Ann said:
1 decade ago
Good explanation Malini!
Lekan said:
1 decade ago
Alright I have another method here without assumption. First things first.
P=SP-CP. Since P=(320/100)CP Then (320/100)CP=SP-CP. SP=(420/100)CP
Next thing is getting the second equation. Our target is "what percentage of the selling price SP is the profit,P if we have a new cost price of (125/100)CP while SP remains the same?" So keep another P in mind which is x per cent of SP.
Therefore equation2 is xSP/100=SP-(125/100)CP
So xSP=100SP-125CP.
SP=(420/100)CP
xSP=100SP-125CP Eq2.
Substituting for SP in Eq2 then we have
x(420/100)CP=100(420/100)CP-125CP
xCP420/100=420CP-125CP. xCP420/100=295CP. x=295/4.2 x=70.23.
Note it has to be an approximated value according to the question which is 70.
P=SP-CP. Since P=(320/100)CP Then (320/100)CP=SP-CP. SP=(420/100)CP
Next thing is getting the second equation. Our target is "what percentage of the selling price SP is the profit,P if we have a new cost price of (125/100)CP while SP remains the same?" So keep another P in mind which is x per cent of SP.
Therefore equation2 is xSP/100=SP-(125/100)CP
So xSP=100SP-125CP.
SP=(420/100)CP
xSP=100SP-125CP Eq2.
Substituting for SP in Eq2 then we have
x(420/100)CP=100(420/100)CP-125CP
xCP420/100=420CP-125CP. xCP420/100=295CP. x=295/4.2 x=70.23.
Note it has to be an approximated value according to the question which is 70.
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