Question

13. Salim makes a profit of 15% by selling a cycle at 4140. At what price should he sell it to
make a profit of 18%?
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Answer 1

Answer:

Given the selling of 4140 and profit margin of 15%, the cost of the goods sold or cycle must be 3600. Doing the math if you take 4140 and subtract the 15% margin you get these cost of 3600. Or, 3600 multiplied by 1.15 equals 4140.

Now, if you want to make an 18% profit margin then you must take your cost of the cycle which we determined to be 3600 and multiply it by 1.18 to get an 18% profit, you now have a new selling price of 4248.