Answer:
Profit % = 111.1 %
Step-by-step explanation:
Cost of glove = £4
Sales price of glove and skirt = £48
100% profits on the cost of the glove
20% profit on the total cost
Profit on the total cost = 20% = 0.20
Total cost + 0.20 total cost = Sale value
1.20 * total cost = 48
Total cost = 48 / 1.20
Total cost = 40
Cost of the skirt = Total cost - cost of the gloves
Cost of the skirt = 40 - 4
= 36
Price of the skirt = total value - price of the gloves
Total value = £48
100% of £4 = 100/100 * £4
= £4
Profits + cost of glove = $8
Amount remaining = £48 - £8
= £40
Profit percentage on the skirt = price of the skirt / cost of the skirt
= 40 / 36 * 100
= 1.1111 * 100
Profit % = 111.1 %
