The selling price of a plate is 140% of its cost price . What will be the profit percentage?
Answer & explanation
Correct answer: option 3
Let the Cost price = 100
Then the selling price is given as = 140% of the CP = 140% of 100 = 140
Profit = 140 - 100 = 40
Profit% = 40 × \(\frac{100}{100}\) = 40%