# When an article was sold for #14, the profit was 40%, what would have been the profit,if it had been sold for #16?

1
by jhoel

Log in to add a comment

by jhoel

Log in to add a comment

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% =

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 =

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

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

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

=> Profit% =