SOLUTION: respected sir, plz help me out for solving this % sum... 1]A retailer shop's gross profit on a camera was 10% of the cost of the camera.if the store increase the selling pric

Question 205088: respected sir,
plz help me out for solving this % sum...
1]A retailer shop's gross profit on a camera was 10% of the cost of the camera.if the store increase the selling price of the camera from $440 to $ 460 & the cost of the camera remained the same,then the shop's gross profit on the camera after the price increase was what % of the cost of the camera ?
plz explain me how to solve this problem...
waiting for yur reply.
regards
Binita.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A retailer shop's gross profit on a camera was 10% of the cost of the camera.if the store increase the selling price of the camera from $440 to $ 460 & the cost of the camera remained the same,then the shop's gross profit on the camera after the price increase was what % of the cost of the camera ?
------------------------
Let original price of the camera be "x" dollars
Profit is 0.10x
Selling price is $440
Equation:
1.1x = 440
x = $400 (original cost of the camera)
------------------
If the selling price is raised to $460 the profit is $60.
The percent profit is 60/400 = 0.15 = 15%
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Cheers,
Stan H.
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