Question 66

A trader decides to sell his goods at a profit of 20%. But due to more demand, he furtherincreases the price by 10%. What is his net profit percent?

Solution

Let the cp=100

profit=20%

then, sp=120

increases the sp by 10%

then new sp= $$ 120 \times (\frac{110}{100}) $$

=132

net profit % = $$ (\frac{sp-cp}{cp}) \times 100 $$

=$$ (\frac{132-100}{100}) \times 100 $$

= 32%

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