Question

If the selling price of an article is increased to 110 % there is a profit of 120 % on cost price what was initial profit percentage​

Answer 1

10%

Assume the initial profit be x

Then increase means +110 %

If x + 110 %= 120 %

Then x = 120% - 110%

Which is equal to 10%

Answer 2

Answer:

let cp be y

initial sp be x

new sp =1.1x=1.2y

x/y=12/11

old profit % =((x-y)/y)×100

=((12/11)-1)×100

= 100/11%