Question

Ramesh sold an article at a certain profit. Had he purchased the article for 12% less and sold it for 24% more, his profit percentage would have been 2.5 times his actual profit percentage. Find his actual profit percentage.

Answer 1

Dear Student,

◆ Answer -

Profit % = 28.57 %

● Explanation -

Suppose Ramesh sold an article of cost price P at a profit of x %.

If he had purchased it for 12 % less and sold it to 24 % more, profit % would have been 2.5 % more.

SP × 124/100 - CP × 88/100 = 2.5 (SP-CP)

1.24SP - 0.88CP = 2.5SP - 2.5CP

2.5CP - 0.88CP = 2.5SP - 1.24CP

1.62CP = 1.26SP

SP = 1.62CP/1.26

SP = 1.2857CP

Profit percentage is calculated as -

Profit % = (SP/CP - 1) × 100

Profit % = (1.2857CP/CP - 1) × 100

Profit % = (1.2857 - 1) 100

Profit % = 28.57 %

Hope that's all...