A manufacturer fixes his selling price at 30% over the cost of production. If the cost of production goes up by 30%, and the manufacturer raises his selling price by 70%, find the profit percentage.
Given:
Initial selling price = 30% above cost
Cost increases by 30%
Selling price increases by 70%
Formula Used:
Profit % =
Solution:
Let original cost price (CP) = ₹100
Then original selling price (SP) = ₹100 + 30% of 100 = ₹130
New CP = ₹100 + 30% of 100 = ₹130
New SP = ₹130 + 70% of 130 = ₹130 × 1.70 = ₹221
New CP = ₹130
New SP = ₹221
Profit = 221 - 130 = ₹91
Profit % =
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