The cost price of milk is increased to ₹62 from ₹60. The milkman sold milk at 10% profit earlier. What is his profit now if he sells milk at the same rate?
- A5.46%
- B6.54%
- C6.45%
- D5.64%
Solution & Step-by-step Explanation
Initial cost price (CP
1
) of milk = ₹60
Earlier profit percentage = 10%
Therefore, the initial selling price (SP) of milk is:
SP=CP
1
×(1+
100
Profit%
)
SP=60×(1+
100
10
)=60×1.1=₹66
New cost price (CP
2
) of milk = ₹62
Since he sells milk at the same rate, the selling price remains ₹66.
New profit = SP−CP
2
=66−62=₹4
New profit percentage is:
New Profit%=(
CP
2
New Profit
)×100
New Profit%=(
62
4
)×100=
31
200
≈6.4516%
Rounding off to two decimal places, we get 6.45%.
1
) of milk = ₹60
Earlier profit percentage = 10%
Therefore, the initial selling price (SP) of milk is:
SP=CP
1
×(1+
100
Profit%
)
SP=60×(1+
100
10
)=60×1.1=₹66
New cost price (CP
2
) of milk = ₹62
Since he sells milk at the same rate, the selling price remains ₹66.
New profit = SP−CP
2
=66−62=₹4
New profit percentage is:
New Profit%=(
CP
2
New Profit
)×100
New Profit%=(
62
4
)×100=
31
200
≈6.4516%
Rounding off to two decimal places, we get 6.45%.