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A shopkeeper makes a gross profit of 20% on his sales.If the cost of good rises 10% and he increases the sale price by 5%, what would be his present percentage of gross profit by sales?

A shopkeeper makes a gross profit of 20% on his sales.If the cost of good rises 10% and he increases the sale price by 5%, what would be his present percentage of gross profit by sales?

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1 Answers

Rudransh Mishra
34 Points
2 years ago
Let the cost price of article be 100x
Thus, selling price of object is 120% of SP =120x
When cost raises 10%, new CP= 110x
When SP raises by 5 %, new SP=126x
Thus profit = 126x-110x=16x
Thus profit percent=\frac{16x}{110x}=14.54545

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