Question 1016588: If the cost price of 11 shirts is equal to the selling price of 10 shirts, find the percentage profit or loss. Found 2 solutions by FrankM, Edwin McCravy:Answer by FrankM(1040) (Show Source):
You can put this solution on YOUR website! I first see that the way the question is asked, we can assign any cost, and then do the math to get a percent. I'll say the shirts are selling for 1000 money units (100 each). The cost is
1000/11= 90.91
And the profit percent 100/90.91=1.10 or 10%
A little more detail:
Let w be the wholesale cost of a shirt
Let r be the retail price of a shirt.
The wholesale cost of 11 shirts = 11w
The retail price of 10 shirts = 10r
Divide both sides by 10:
Substitute in
Edwin
