If the selling price of a bed is 2-times of initial, then the profit is 11-times of initial. Find the initial profit percentage.
Given:
New profit = 1initial 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 = 11(S - C).
2S - C = 11S - 11C
-9S + 10C = 0
S =C
Initial profit = S-CC.
%
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