Question

by selling an article for $240 a man makes a profit of 20%. what is his c.p.? what would his profit percent be if sold the article for $275?

Answer 1

Profit Percent = 37.5%

Answer 2

As Profit ($) = Profit % / 100  × CP

SP = CP + Profit 
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Let CP = x ($) , Then

 SP = (x) + Profit % / 100   ×  (x)

240 = x + 20 / 100  × (x)

240 = x + x/5

240 = 5x+x / 5

  6x = 1200

    x = $200
 
Hence CP = $200
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If the SP = $275, then Profit %

SP = CP + Profit

Profit($) = Profit % / 100  ×  CP

SP = CP + Profit % / 100  × CP

275 = 200 + Profit % / 100  × (200)

Profit % = 275 - 200 / 2

              = 75 / 2  ⇒ 37.5 %
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