Question

When an article was sold for 14naira,the profit made was 40%,what would have been the profit if it had been sold for 16naira

Answer 1

60%

Explanation:

The article cost the store x.

The store raised the price to 14 naira and made 40% profit.

The selling price is 1.4x.

The selling price is 14 naira.

1.4x = 14

1.4x/1.4 = 14/1.4

x = 10

The store bought the article for 10 naira.

If the store sold the article for 16 naira, the profit would be 6 naira.

percent = part/whole × 100%

percent = 6/10 × 100%

percent = 60%