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MAT Exam 2020 Paper

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Question : 112 of 200

Marks: +1, -0

What per cent selling price would be

34 \%

of the cost price if the gross profit is 26\% of the selling price?

74.00%
25.16%
17.16%
88.40%

Solution:

Concept:

Gross profit is based on the selling price, so assume

SP = 100

and then calculate the cost price.

Explanation:

Let the selling price be

SP = ₹100

.

Gross profit

= 26\%

of

SP = \frac{26}{100} \times 100 = ₹26

.

So, cost price

CP = SP - \text{Profit} = 100 - 26 = ₹74

.

Now,

34\%

of

CP = \frac{34}{100} \times 74 = ₹25.16

.

Since

SP = ₹100

, this amount equals

25.16\%

of the selling price.

Answer:

25.16\%

, i.e., Option B.

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