Answer: The profit percentage increase = 15%
Step-by-step explanation:
Given : Profit made by a shop in March = 2750 pounds
Profit made by shop in April = 3162.50 pound
The profit increase = [tex]3162.50-2750=412.5[/tex]
The profit percentage increase is given by :-
[tex]\dfrac{\text{Increase in profit}}{\text{Profit in March}}\times100[/tex]
[tex]=\dfrac{412.5}{2750}\times100=15\%[/tex]
∴ The profit percentage increase = 15%
The profit percentage will increase by 15%.
Using this formula
Po(1+rt)=P1
Where:
Po=2750 pounds
P1=3162.50 pound
t=1
Let plug in the formula
2750(1+rt)=3162.50
1+rt=3162.50/2750
1+rt=1.15
rt=1.15-1×100
rt=15%
Inconclusion the profit percentage will increase by 15%.
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