If the selling price of a bed is 2-times of initial, then the profit is 10-times of initial. Find the initial profit percentage (in %).
Given:
New profit = 10 initial profit
Formula Used:
Profit = SP - CP
Profit % =
Solution:
Initial selling price = S, cost price = C
Initial Profit = S - C
New selling price = 2S
New profit = 2S - C.
Given 2S - C = 10(S - C).
2S - C = 10S - 10C
-8S + 9C = 0
S =C
Initial profit = S - C =
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