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MAT Exam 2024 Paper

Question : 70 of 150

Marks: +1, -0

17 \%

of the selling price?

Solution:

Concept:

Gross profit is the difference between selling price and cost price.

Express cost price in terms of selling price, then find the required percentage.

Explanation:

Let the selling price (SP) be

100x

Gross profit is

17\%

of SP, so profit

= 17x

Cost price (CP)

= \text{SP} - \text{Profit} = 100x - 17x = 83x

Now,

27\%

of cost price is:

\frac{27}{100} \times 83x = 22.41x

Since SP is

100x

, this amount as a percentage of SP is:

\frac{22.41x}{100x} \times 100 = 22.41\%

Answer:

22.41\%

, which is option C.

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