Multiple choice

Sara decides to sell two different types of handmade candles, Cinnamon and Lavender, at the same price initially. She earns a profit of 15% on Cinnamon candles but incurs a loss of 8% on Lavender ones. If she decides to adjust the selling prices such that both types of candles are still sold at an equal price, and she manages to make a profit of 6% on Lavender candles, what would be the approximate profit percentage on Cinnamon candles after the adjustment?

  1. 29

  2. 31

  3. 33

  4. 35

  5. 37
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let initial price be P. CP of Cinnamon = P/1.15 = 0.8696P. CP of Lavender = P/0.92 = 1.087P. New selling price S is equal for both. New profit on Lavender is 6%, so S = 1.06 * (1.087P) = 1.1522P. Profit on Cinnamon = (1.1522P - 0.8696P) / 0.8696P = 0.2826 / 0.8696 = 32.5%. Rounding to the nearest integer gives 33%.

AI explanation

Let the initial selling price be 2300, making the cost price of Cinnamon 2300 divided by 1.15, which is 2000, and the cost price of Lavender 2300 divided by 0.92, which is 2500. The new selling price that yields a 6% profit on Lavender candles is 2500 multiplied by 1.06, resulting in a price of 2650. The profit percentage on Cinnamon candles after this adjustment is calculated as ((2650 minus 2000) divided by 2000) multiplied by 100, which equals 32.5%. Rounding to the nearest whole number gives an approximate profit of 33%.

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