A retailer sells goods at a price by which he gain 25 on that price. The cost of his goods is reduced later by 6% and he lowers his selling price by 4%.calculate the percentage of profit on sales under the above condition.
Answers
Given : A retailer sells goods at a price by which he gain 25% on that price. The cost of his goods is reduced later by 6% and he lowers his selling price by 4%.
To Find : the percentage of profit on sales under the above condition
Solution:
Let say cost Price = 100C
Gain = (25/100)100C = 25C
Selling Price = 100C + 25C = 125C
The cost of his goods is reduced later by 6%
New Cost = 100C - (6/100)100C = 94C
lowers his selling price by 4%.
New Selling Price = 125C - (4/100)125C
= 125C - 5C
= 120C
New Profit = 120C - 94C
= 26C
New profit % = (26C/94C) * 100
= 27.66 %
percentage of profit on sales under the new condition. = 27.66 %
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