In a restaurant, the profit is 120% of the cost. If the cost increases by 12% but the selling price remains constant, approximately what percentage of the selling price is the profit?
Choose the correct option:
A) 30%  B) 49%  C) 90%  D) 100%  E) None of these
Explanation :   Let C.P.= Rs. 100. Then, Profit = Rs. 120, S.P. = Rs. 220.   New C.P. = 112% of Rs. 100 = Rs. 112   New S.P. = Rs. 220.   Profit = Rs. (220 - 112) = Rs. 108.   Required percentage = (108 /220 *100) % = 49 % appox   Answer : 49%
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In a restaurant, the profit is 120% of the cost. If the cost increases by 12% but the selling price remains constant, approximately what percentage of the selling price is the profit?