Question

trader sells article at 32 each and therby makes a certain percentage of profit. He increases the price to 34 and the percentage of his profit is increased by 20. What profit has he made at the latter price?​

Answer 1

Answer:

The profit is Rs. 24/- at latter price

Step-by-step explanation:

Let the cost price is Rs. x for each & the percentage of profit is r % initially.

$\therefore \frac{32-x}{x}\times100=r\implies rx=100(32-x)\\\\ According to the question if the selling price is 34/- the the profit percentage is increased by 20 \\\\\therefore \frac{34-x}{x}\times100=r+20\implies rx+20x=100(34-x)\\\\ Replace rx at the second equation from the first equation, we get \\\\\therefore 100(32-x)+20x=100(34-x)\\\implies 20x=100(34-x)-100(32-x)\\\implies 20x=100(34-x-32+x)\\\implies 20x=200\\\implies x=10$

The cost price of the article was Rs. 10 only. Therefore the profit at the latter price = (34-10) = 24/-