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Question
If a car is sold for Rs..50000 the profit is 17 percent, what would be profit percentage if sold for Rs. 47000.

Answer
Hi Zubair,
The fastest way to do this would be to consider 50000 as 117 percent of the cost price of the car and then try to find the corresponding percentage of 47000.
So,
50000 → 117
47000 → x
and by cross-multiplying,
50000x = (117)(47000)
x = 109.98
which means that selling at Rs 47000 results in a 9.98 percent profit.

You would notice that in this particular solution we haven't bothered to find the cost price of the car, because we don't need it. If we wanted to, we could have found it and then use it to determine the profit at Rs 47000.
We know that 50000 = 1.17C
so that C = 42735
Now, 47000 = p(42735)
p = 1.0998
and we again see that the profit would be 9.98 percent.

Hope it's all clear.

Regards

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