Answer: Let's assume the cost of Turnip's horse, Slack Bess, was x pounds.
The percentage profit he made is numerically the same as the cost of his horse, which means the profit made is equal to x pounds.
To calculate the profit, we subtract the cost from the selling price:
Profit = Selling price - Cost
Given that the selling price is £56 and the profit is x pounds, we can write the equation as follows:
x = £56 - x
Simplifying the equation, we get:
2x = £56
Dividing both sides of the equation by 2, we find:
x = £28
Therefore, the cost of Turnip's horse, Slack Bess, was £28.