A store pays $54 for a briefcase and marks the price up by 20%. What is the new price?
1 answer:
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Answer:
Profit = Rs 100
Profit %age = 6.25%
Step-by-step explanation:
Cost Price = Rs 80
Cost Price for 20 kg = Rs 1600
Selling Price = Rs 85
<u><em>Profit for 1 kg</em></u> = Rs 85 - Rs 80
=> Rs 5 (For 1 Kg)
<u><em>Profit for 20 kg:</em></u>
=> Rs 5*20
=> Rs 100
<u><em>Now Profit %age:</em></u>
=>
=> 0.0625 * 100
=> 6.25%