Step 1: Let's assume the cost price of one pen is $1. Therefore, the cost price of 56 pens would be $56.

Step 2: According to the problem, the selling price of 40 pens is equal to the cost price of 56 pens. So, the selling price of 40 pens is also $56.

Step 3: This means the selling price of one pen is $56/40 = $1.4.

Step 4: We know that the profit is calculated as the selling price minus the cost price. So, the profit for one pen is $1.4 - $1 = $0.4.

Step 5: The profit percentage is calculated as (Profit/Cost Price) * 100. So, the profit percentage is ($0.4/$1) * 100 = 40%.

So, the profit percentage is 40%.

Question

Step 1: Let's assume the cost price of one pen is $1. Therefore, the cost price of 56 pens would be $56.

Step 2: According to the problem, the selling price of 40 pens is equal to the cost price of 56 pens. So, the selling price of 40 pens is also $56.

Step 3: This means the selling price of one pen is $56/40 = $1.4.

Step 4: We know that the profit is calculated as the selling price minus the cost price. So, the profit for one pen is $1.4 - $1 = $0.4.

Step 5: The profit percentage is calculated as (Profit/Cost Price) * 100. So, the profit percentage is ($0.4/$1) * 100 = 40%.

So, the profit percentage is 40%.

Knowee AI · Accepted Answer

Step 1: Let's assume the cost price of one pen is $1. Therefore, the cost price of 56 pens would be $56.

Step 2: According to the problem, the selling price of 40 pens is equal to the cost price of 56 pens. So, the selling price of 40 pens is also $56.

Step 3: This means the selling price of one pen is $56/40 = $1.4.

Step 4: We know that the profit is calculated as the selling price minus the cost price. So, the profit for one pen is $1.4 - $1 = $0.4.

Step 5: The profit percentage is calculated as (Profit/Cost Price) * 100. So, the profit percentage is ($0.4/$1) * 100 = 40%.

So, the profit percentage is 40%.

If the selling price of 40 pens is equal to cost price of 56 pens. Find the profit percentage.