The cost of raw materials of a product increases by 30%, the manufacturing cost increases by 20% and the selling price of the product increases by 60%. The raw material and the manufacturing cost originally formed 40% and 60% of the total cost respectively. If the original profit percentage was one – fourth the original manufacturing cost, find the approximate new profit percentage.
A. 48.39%
B. 54.76%
C. 63.85%
D. 66.75%
Answer: Option A