Question

If selling prise becomes five time of itself and profit becomes 700%of itself then what was the staring profit

Answer 1

• Starting profit was twice the cost price or 2/3 of the selling price

Explanation:

Selling price is:

• SP = CP + profit

Then, profit:

• Profit = SP - CP

Let profit be x, then:

• x = SP - CP initial profit
• 7x = 5SP - CP new profit
• 6x = 4SP subtracting the above 2 equations
• x = 4/6SP
• x = 2/3SP profit in terms of selling price

Finding profit relationship with cost:

• CP = SP - 2/3SP = 1/3SP
• SP = 3CP
• x = 2CP profit in terms of cost

Starting profit was twice the cost price or 2/3 of the selling price