Answers

2014-02-24T15:16:58+01:00
Profit = selling price(s.p) - cost price(c.p)


Profit% = (profit / c.p) * 100%

40% = [ (s.p - c.p) / c.p] * 100%
40% = [ (14 - c.p) / c.p] * 100%
Now it's evident that what we're looking for is c.p

40% = \frac{1400 - 100c.p}{c.p}

Cross-multiply now.

40c.p = 1400 - 100c.p

Now collect terms in x into one side.

40c.p + 100c.p = 1400
140c.p = 1400
c.p = 10


Therefore, the cost price of the item was #10.

If it had been sold for #16, the profit would have been #16 - #10 = #6

To calculate profit per cent, we apply our formula again,

Profit% = (profit / c.p) * 100%

=> Profit% = (6/10) * 100%
=> Profit% = 60%

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Broda the answer shld b in percentage
I've edited the answer to profit percentage. Please if you find it valuable, kindly mark as best. Thank you.