Vijay sells bananas at the rate of Rs. 14 per dozen and earns a profit of 40 percent. The cost price of the bananas increases by 30 percent. If the selling price remains the same, then what is his new profit percent?
Answer & explanation
Correct answer: option 1
SP = 14 , Profit = 14%
SO , CP : SP
5 : 7
According to question ,
7X = 14
X = 2
5X = 10
Increased Priced = 130% of 10 = 13(New CP)
SP = 14
Profit percent = \(\frac{14-13}{13}\) × 100 = \(\frac{1}{13}\) × 100
= 7.69%