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A person sold an electronic watch at Rs. 96 in such a way that his percentage profit is same as the cost price of the watch. If he sells it at twice the percentage profit of its previous percentage profit then what will be the new selling price
What I did:- Given:- S.P.=96 CP=profit=x SP-CP=Profit 96-x=x 96=2x x=48 SP-CP=48 CP=48 $48/48*100=100%$ I don't understand what to do next
Let $x$ be the cost/price of watch. The profit percentage is then $x\%$. The selling price can be defined as $$\frac{x(100+x)}{100}$$ We have a selling price of Rs.$96$. Therefore $$\frac{x(100+x)}{100} \Rightarrow x = 60$$ In other words, the cost price is Rs.$60$ and the profit percentage is $60\%$. if he sells twice the percentage profit, i.e. $120\%$ the new selling price is then $$\frac{60(120+100)}{100} = 132$$
