Question

I make a profit of 20% by selling an article.what would be the profit percent if it were calculated on the selling price instead of the cost price

Answer 1

Answer: $16\dfrac{2}{3} \%$

Step-by-step explanation:

Let cost price;CP of the article = Rs. 100

Profit = 20%

Selling price; SP of the article = $100+ 20\% \text{ of }100 = 100 + 20 = Rs. 120$

Now profit on selling price is given by

$Profit\% = \dfrac{Profit}{SP} \times 100\\\\=\dfrac{20}{120} \times 100  = \dfrac{50}{3}= 16\dfrac{2}{3} \%$

Hence, the profit percent on selling price is $16\dfrac{2}{3} \%$