Question

Michael bought a hat and a coat

Answer 1

Percentage profit on the cost of the coat is 50 %

Step-by-step explanation:

Cost of hat = £10

Michael made 200% profit on the hat.

$\texttt{Selling price of hat = }10+\frac{200}{100}\times 10=30$

He sold both items for a total of £90.

Selling price of coat = 90 - 30 = £60

He made  80% profit on the total cost. Let C be the cost for coat and hat.

That is

           $C+\frac{80}{100}\times C=90\\\\1.8C=90\\\\C=50$

Cost for coat = 50 - 10 = £40  

$\texttt{Percentage profit on the cost of the coat = }\frac{60-40}{40}\times 100\\\\\texttt{Percentage profit on the cost of the coat = }50\%$

Percentage profit on the cost of the coat is 50 %