Question

A profit of 40% on selling price is equivalent to what percent profit on
cost price.
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Answer 1

Answer:

Let sp = c + p,,, selling price = cost + profit

given,,,p/sp = 40 % =.40

subst, p = sp -c

(sp-c) / sp = .4

sp - c = .4 sp

.6 sp = c

c /sp = .6 = 60 %

Step-by-step explanation:

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