In a certain shop, the profit is 130% of the cost. If the cost increases by 28% and the selling price remains constant, then what is the profit percentage to the nearest whole number?
Answer & explanation
Correct answer: option 4
According to the question if the profit is 130% of the cost price then,
CP SP
100 230
After increasing 128 230 = 102 Profit
Profit % = \(\frac{102 × 100}{128}\) = 80%