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      Question

      Suppose the profit % is 40% when calculated based on the selling price, what would be the profit percentage when calculated based on the cost price?

      A 55(2/3)% Correct Answer Incorrect Answer
      B 66(2/3)% Correct Answer Incorrect Answer
      C 44(2/3)% Correct Answer Incorrect Answer
      D 11(2/3)% Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the selling price of item be Rs. '100x'. Profit earned when calculated on its selling price = 0.4x × 100x = Rs '40x' Cost price of item = 100x - 40x = Rs. '60x' Therefore, required profit % = (40x/60x) × 100 = 66(2/3)%

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