Question

A dealer currently makes a profit of x% of his cost when he sells goods. If the dealer could get his goods for 8% less while keeping his price fixed, his profit would be increased to (x+10)% of his cost. Find x

Answer 1

Answer:

15%

Step-by-step explanation:

Let

Selling price = SP

Cost price = CP

If CP = 100

Profit = selling price - cost price

x% = SP - x% of 100

x% + 100x% = SP

SP = 100 (1 + x/100) (1)

If CP = 92

SP = 92 (1+ {x+10}/100)

Equate both SP

100 (1 + x/100) = 92 (1+ {x+10}/100)

100 + x = 92 + [{23/25} * (x+10)]

{2/25}x = 30/25

x = 30/25 ÷ 2/25

= 30/25 × 25/2

= 30/2

x = 15%