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In a certain store, the profit of an article is 380% of the cost. If the cost increases by 20% but the selling price remains the same, what percentage of the selling price is the profit :

Solution

Correct Option: 2

Let cost = 100. Profit = 380. SP = 480.

New cost = 120. SP still = 480.

New profit = 480120=360480 - 120 = 360.

Percentage of SP = 360480×100=75\frac{360}{480} \times 100 = 75%.

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