Question

Molly bought a pair of gloves and a skirt. The gloves cost £3. She sold teh gloves and the skirt for a total of £42. She made 100% profit on the cost of the gloves. 40% profit on the total cost. Work out the percentage profit on the cost of the skirt

Answer 1

33.33%

Explanation:

Given that,

The selling price of gloves and the skirt = £ 42

Profit on the total cost = 40% = 0.40

so,

Total cost + profit = sale value

⇒ 1.40 total cost = 42

∵ Total cost = 42/1.40

= £ 30

Cost of the gloves = £ 3

Cost of the skirt = Total cost - cost of gloves

∵ Cost of the skirt = £ 30 - £ 3

= £ 27

Value of the skirt = Total value - Value of gloves

As we know,

Total value = £42

Value of gloves = Cost of the gloves + profit

A.T.Q.

Profit on the gloves = 100 % of cost = Cost

∵ Value of gloves = 2 * cost of the gloves'

= 2 * £3

= £6

∵ Value of the skirt = £42 - £6

= £ 36

Therefore,

Profit on the skirt = Value of the skirt - cost of the skirt

= £ 36 - £ 27

= £ 9

∵ Profit % on skirt = profit/C.P. * 100

= £9/27 * 100

= 33.33 %