Question

If a shopkeeper increases his selling price by 20% due to a 10% increase in his cost price, find his new profit percentage given that his earlier profit percentage was 10%.
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Answer 1

Let original CP = 100

Profit = 10% = 10

SP = 110

New SP = 110 x 120/100 = 132

132 represents 115% of new CP

New CP = 132/115 x 100 ≈ 114.78

Increase in CP = 14.78/100 x 100 = 14.78%

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