Civil Service Exam Reviewer · Simple Interest and Profit/Loss · easy

An item costing ₱280 is sold for ₱336. What is the percent profit based on cost?

  1. 16.67%
  2. 56%
  3. 20%
  4. 120%

Answer

C. 20%

Solution

Profit = ₱56. 56 ÷ 280 × 100 = 20%.

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