to double the profit from the present 10 % the present selling price of rs.100 will have to be increased approximately to
110
To double the profit from the present 10%, we need to first calculate the current profit.
Profit is calculated as a percentage of the selling price. If the profit is 10%, then it means that the profit is 10% of the selling price.
Profit = 10% of Selling Price
Since the selling price is Rs. 100, we can calculate the profit as follows:
Profit = 10% of Rs. 100
= Rs. (10/100) * 100
= Rs. 10
Now, to double the profit, we need to determine the new selling price that will result in a profit of Rs. 20 (double of Rs. 10).
Let's assume the new selling price is 'x'. The profit calculation would be as follows:
Profit = 10% of New Selling Price
Therefore,
Rs. 20 = 10% of x
To find the value of 'x', we need to isolate it on one side of the equation:
x = (20 / 10%)
To calculate the value of 'x', divide Rs. 20 by 10% (which is equivalent to 0.1 as a decimal):
x = Rs. 20 / 0.1
= Rs. 200
So, to double the profit from the present 10%, the present selling price of Rs. 100 will have to be increased approximately to Rs. 200.