A watch is sold for $546 at a gain of 56 percent. Find the profit. *
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Answer:
Let x be the cost price of the article and x% is the profit margin.
Therefore, S.P =x(
1+
100
x
)=56
⇒100x+x
2
=5600
Solving for "x", we get x=40 or x=−140.
As the price cannot be a negative quantity, x=40.
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