Thread: Calculating percentag profit

Posting back my question:

The question is:
A store sells an item at 40% profit. During a sale the item was sold for 10% less than the usual price. Calculate the %age profit during the sale.

The answer is 26% but i cant figure out how they got this answer

Originally Posted by MikeNoob

The question is:
The answer is 26% but i cant figure out how they got this answer

let C = item's wholesale cost (what it costs the store to stock it)

they sell it at a price, P , that gives them 40% profit ...

P = 1.4C

they run a 10% price discount ...

0.9(P) = 0.9(1.4C) = 1.26C

kapish?

Yeah. Actually once i just gave the item a supposed price of 10 dollars solving it became simpler.