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 choice from the following answers:
A) 30 % B) 49 % C) 90 % D) 100 % E) none of these

Rationale: "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 : b"
Answer: B