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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