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Question 88
On a certain item profit is 120%. If the cost price increases by 10% then what will be the new profit margin (in %) if selling price remains the same?
Solution
Let cost price be 100
Now profit is 120%Â
so selling price = 220Â
Now C.P is increased by 10%Â
so new C.P = 110
Now S.P is same = 220
Therefore profit =Â $$\frac{220-110}{110}\times\ 100\ =\ 100\%$$
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