Question
Suppose the profit % is 40% when
calculated based on the selling price, what would be the profit percentage when calculated based on the cost price?Solution
ATQ,
Let the selling price of item be Rs. '100x'. Profit earned when calculated on its selling price = 0.4x × 100x = Rs '40x' Cost price of item = 100x - 40x = Rs. '60x' Therefore, required profit % = (40x/60x) × 100 = 66(2/3)%
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