The price of an article, passing through three hands, rises on the whole by 61%, if the first and the second sellers earned 15% and 20% profit respectively, find the percentage profit earned by the third seller.
The price of an article, passing through three hands, rises on the whole by 61%, if the first and the second sellers earned 15% and 20% profit respectively, find the percentage profit earned by the third seller.
Solution
An article is sold through 3 sellers. Each seller buys it and then sells it at a profit:
- 1st seller makes 15% profit
- 2nd seller makes 20% profit
- 3rd seller makes unknown profit
- Overall increase is 61% from original price to final price
Let the original cost price be .
The 1st seller earns 15% profit.
Price after 1st seller
The 2nd seller earns 20% profit on .
Price after 2nd seller
The overall increase is 61% from the original price.
Final Price
The 3rd seller buys at and sells at .
Let the profit percentage be .
Therefore, the third seller earned a profit of .
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