If the cost price is 72% of the selling price, then what is the percentage of profit (correct to 2 decimal places)

Question

Question

This question was previously asked in

SSC CGL 2022 Tier-I Official Paper (Held On : 03 Dec 2022 Shift 3)

Answer 1

Given:

The cost price is 72% of the selling price.

Concept used:

Profit% = \({(Selling\ Price\ -\ Cost\ Price) \over Cost\ Price} \times 100\%\)

Calculation:

Let the selling price be 100x.

Cost price = 100x × 72% = 72x

Now, profit% = \(\frac {100x- 72x}{72x} \times 100\%\) ≈ 38.89%

∴ The profit percentage is 38.89%.