John sold a book for $50. If he made a profit of 25% on it, by how muc

Question

John sold a book for $50. If he made a profit of 25% on it, by how much should he increase the price if he wants to earn 50% on the book?
(A) $5
(B) $10
(C) $20
(D) $25
(E) $50

Chetan's  questions

KSBGC · Answer

Current Selling price = 50

profit % = 25

So we can calculate the cost price of the book as follow:

(50 / 125)*100 = 40

cp = 40

Now we want to gain 50%.

Selling price new: (40*150 )/ 100 = 60.

Difference between new selling price and old selling price = 60 - 50 = 10

so we have to increase 10 $ to gain 50% on the book .

The best answer is B.

WizakoBaskar · Answer

Initial Selling Price = $50.
Profit = 25% of cost
Expressing profit as fraction 25% = 1/4 of cost.

SP = CP + Profit
50 = CP + 1/4 CP
Or 5/4 CP = 50
CP = 50*(4/5) = 40.

If John wants a profit of 50%, his selling price should be 40 + 50% of 40 = 40 + 20 = $60.
Initial selling price = $50.
So, he has to increase his SP by $10.

Akash720 · Answer

Current price of the book  = 50$ 
Let the initial price be 'x' 
Profit of 25% i.e.,  50$ = x(1+25/100) 
 50$ = x (125/100) 
 x = 50/1.25 
 x = 40$ 
Initial price of book  = 40$ 
To earn 50% profit  = 40*(50/100) = 20$ 
Therefore, John needs to sell the book at  = 40+20 = 60$ 
Current price  = 50$ 
Price needed to increase  = 60-50 = 10$

Hence B

castiel · Answer

SP=$50
(1.25)*CP=50
So, CP=40
Now, Profit=50-40=$10
this means, 25% profit=$10
 50% profit=$20
thus, increase in price=$20-$10=$10

maxjames21 · Answer

Should be clearer "25% of the cost," it's currently stated as though it could be 25% of the revenue as is often quoted in that way.

bumpbot · Answer

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John sold a book for $50. If he made a profit of 25% on it, by how muc

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