In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
Q1. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
Answer: 70%
Explanation: If profit = 320% of cost, then SP = 4.2×CP; after a 25% cost rise, new profit = SP − 1.25×CP = 2.95×CP, which is about 70% of SP.