Question
An item is sold at a profit of
35% when the profit is calculated on the selling price. What will the profit percentage be if calculated on the cost price? Round off your answer to the nearest integer.Solution
ATQ, Let the selling price of the item be Rs. '100x'. So, profit earned on selling the item = 100x × 0.35 = 35x So, cost price of the item = 100x - 35x = 65x Therefore, required profit earned = (35x/65x) × 100 = (700/13) ~ 54%
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