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A trader marks the price at 8 percent higher than the original price. Due to the hike in demand, he again increases the price by 10 percent. How much percent profit he gets.
- a)17.8%
- b)18.8%
- c)19.8%
- d)20.8%
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A trader marks the price at 8 percent higher than the original price. ...
Calculation:
Step 1: Initial price increase
- Let the original price be 100.
- The trader marks the price at 8% higher, so the new price = 100 + 8% of 100 = 100 + 8 = 108.
Step 2: Second price increase
- Due to the hike in demand, the price is increased by 10%.
- The new price after the second increase = 108 + 10% of 108 = 108 + 10.8 = 118.8.
Profit Percentage Calculation:
- Profit percentage = ((Selling Price - Cost Price) / Cost Price) * 100
- Cost Price = 100 (initial price)
- Selling Price = 118.8 (final price after both increases)
- Profit percentage = ((118.8 - 100) / 100) * 100 = 18.8%
Therefore, the trader gets a profit percentage of 18.8%. Option B is the correct answer.
Step 1: Initial price increase
- Let the original price be 100.
- The trader marks the price at 8% higher, so the new price = 100 + 8% of 100 = 100 + 8 = 108.
Step 2: Second price increase
- Due to the hike in demand, the price is increased by 10%.
- The new price after the second increase = 108 + 10% of 108 = 108 + 10.8 = 118.8.
Profit Percentage Calculation:
- Profit percentage = ((Selling Price - Cost Price) / Cost Price) * 100
- Cost Price = 100 (initial price)
- Selling Price = 118.8 (final price after both increases)
- Profit percentage = ((118.8 - 100) / 100) * 100 = 18.8%
Therefore, the trader gets a profit percentage of 18.8%. Option B is the correct answer.
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Community Answer
A trader marks the price at 8 percent higher than the original price. ...
Suppose initial price = 100
Then final price = 100*(108/100)*(110/100) = 118.8
Therefore, Profit Percentage = 18.8%
Then final price = 100*(108/100)*(110/100) = 118.8
Therefore, Profit Percentage = 18.8%
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A trader marks the price at 8 percent higher than the original price. Due to the hike in demand, he again increases the price by 10 percent. How much percent profit he gets.a)17.8%b)18.8%c)19.8%d)20.8%Correct answer is option 'B'. Can you explain this answer?
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