Question

An agent buys an item at 70% of its value and sells it at 10% more than its value. What percent of the cost is his profit?

Answer 1

Lets say the initial cost is 100 dollars. The agent would buy it for 70 dollars. If he sold it for 10% more than what he bought it for, he would be selling it for 77 dollars, making a total profit of 37 dollars. This would mean that he made a 48% profit.