Shortcut Trick
Let Cost Price (CP1) = 100.
Profit = 190% of 100 = 190 ⇒ Selling Price (SP) = 100 + 190 = 290.
New Cost Price (CP2) = 100 + 10% of 100 = 110.
New Profit = SP − CP2 = 290 − 110 = 180.
Required % = (Profit ÷ SP) × 100 = (180 ÷ 290) × 100 ≈ 62%.
∴ The correct answer is 62%.
Alternate Method
Given: Initial Profit = 190% of CP, CP increase = 10%, SP is constant.
Formulas: SP = CP + Profit | Profit % of SP = (Profit ÷ SP) × 100
⇒ Let original CP = 100 units.
⇒ Profit = 190% of 100 = 190 units.
⇒ SP = CP + Profit = 100 + 190 = 290 units.
⇒ New CP = 100 + (10% of 100) = 110 units.
⇒ New Profit = SP − New CP = 290 − 110 = 180 units.
⇒ Profit percentage of SP = (180 ÷ 290) × 100 = 1800 ÷ 29 ≈ 62.06%.
∴ The correct answer is 62%.
Additional Information
Profit Calculation Base
Standard Profit % is always calculated on Cost Price (CP) unless stated otherwise. However, in this problem, the question specifically asks for profit as a percentage of the Selling Price (SP).
Approximate Values
When calculating percentages like 180/290, you can simplify to 18/29. Since 18/30 = 60%, and the denominator 29 is smaller than 30, the result must be slightly higher than 60%.