percentages

[nehakhas1]

A toy store’s gross profit on a computer game was 10 percent of the cost of the game. If
the store increased the selling price of the game from $44 to $46 and the cost of the game
remained the same, then the store’s gross profit on the game after the price increase was
what percent of the cost of the game?
A. 10.5%
B. 11%
C. 12.5%
D. 13%
E. 15%

Ans : E


Please explain

[sairakesh]

Hi,
Intial selling price is 44
Intial selling price is 10 percent of cost price.
so Cost price is 10 percent of 44 that is 44-4=40
Now the cost price is 40 and the new selling price is 46.
so gross profit =(46-40)/40 *100
=6/40 *100
=3/2 *10
=15 percent

Hence E is the answer

[truplayer256]

44-x=.10x x=selling price of game
x=40

46-40=6 dollars gross profit

40 times x/100=6
x=15

[sureshbala]

Hey, this is very simple...you need not get into any equations to solve.

It is given that 44 is 110% of CP

So obviously 46 will be 46/44 (110%) CP = 115% of CP

Hence 15% will be the profit percentage