Question : A mobile phone is sold at a profit of 80%. The nominal profit is approximately what percentage of the selling price of the mobile phone?
Option 1: 33.33%
Option 2: 28.56%
Option 3: 44.44%
Option 4: 36.66%
Correct Answer: 44.44%
Solution :
Given,
A mobile phone is sold at a profit of 80%.
We know, Selling price = $\frac{100+\text{profit percentage}}{100}$ × cost price
Let the cost price of the phone be Rs. 100
The selling price at a profit of 80% is Rs. 180
Profit with respect to the selling price = $\frac{180-100}{180}\times100$ = 44.44%
Hence, the correct answer is 44.44%.
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