Question 74

A mobile phone is sold at a profit of 80%. The nominal profit is approximately what percentage of the selling price of the mobile phone?

Solution

Let's assume the cost price of a mobile phone is 100y.

A mobile phone is sold at a profit of 80%.

Selling price of a mobile phone = 100y of (100+80)%

= 100y of 180%

= $$100y\times\frac{180}{100}$$

= 180y

The nominal profit = 180y-100y = 80y

Percentage = $$\frac{80y}{180y}\times100$$

= 44.44% (approx.)

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