What was the approximate difference in profit percentages of the store in 2017 and 2018?
Started 3 months ago by Shashank in
Explanatory Answer
The percentage share in Revenue and cost in the different years are as follows
Assume the cost of the store in 2016 to be 100.
As the profit percentage that year was 100, the revenue of the store in that year would be
200 .
Revenue in 2017 would be 400 and cost of the store in 2018 would be 200 . Given that in
2017,30% of 400 = 40% of cost.
120 = 40% of cost or cost in 2017=300
In 2018,50% of 200 = 40% of Revenue
Revenue in 2018 100/0.4= 250
We have the following values for Revenue and cost for the different years
Profit percentage of the store in 2017 =100 /300 =33.3%
Profit percentage of the store in 2018 = 50/200 = 25.0%
The required difference 33.3- 25.0 8.3
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