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%.​

Answer 1

Answer:

14.782%

Initially as profit was 10% so SP1 = 11/10 CP1

Final as profit is 15% so SP2 = 23/20 CP2.

Now SP2 is 120% of SP1 so SP2/SP1 = 5/6.

Now putting all variables in game.

5/6 = (11/10) CP1/ (23/20) CP2, from here CP2/ CP1 = 132/115 so change is 17/115 that is 14.782%.

Answer 2

Step-by-step explanation:

Let original cost =100

so original SP=110

New CP = 110

New SP=132

Profit=22

profit %=22/110*100=20%