Formula Used: Profit Percentage = [(Selling Price - Cost Price) / Cost Price] × 100
Solution:
Let the original cost price (CP) be Rs. 100.
SP = CP × (1 + Profit Percentage / 100) = 100 × (1 + 80/100) = Rs. 180
Now, the cost price increases by 20%.
New cost price = 100 × (1 + 20/100) = Rs. 120
New profit percentage = [(SP - New CP) / New CP] × 100 = [(180 - 120) / 120] × 100 = 50%
Change in profit percentage = 80% - 50% = 30% decrease.
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