a tradesman after selling his goods at a profit of 20% decided to reduce his profit to 15% and thereby he increases his weekly sales. If his weekly receipts thus increase by 53 1/3%. Find by how much percents his weekly sales increase.
Answers
Given : a tradesman after selling his goods at a profit of 20% decided to reduce his profit to 15% and thereby he increases his weekly sales. If his weekly receipts thus increase by 53 1/3%.
To Find : by how much percents his weekly sales increase.
Solution:
Let say Cost = C
He sells Weekly Sales= Q
selling his goods at a profit of 20%
=> SP = C + (20/100)C = 1.2C
Weekly receipt = 1.2CQ
reduce his profit to 15%
=> SP = C + (15/100)C = 1.15C
weekly receipts thus increase by 53 1/3%
= 1.2CQ + (53 1/3) /100 =
= 1.84CQ
Weekly Sales = 1.84CQ/1.15C = 1.6Q
% Weekly Sales increase = ( 1.6Q - Q)/Q * 100
= 60%
weekly sales increase. by 60 %
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