The correct statement is that the profit is 60% if it had been sold for $16.
What is the percentage?
The amount of something is expressed as if it is a part of the total which is a hundred. The ratio can be expressed as a fraction of 100. The word percent means per 100. It is represented by the symbol ‘%’.Triangle?
Given
When an article was sold for $14 the profit was 40%.
How to find the profit if it had been sold for $16?
When an article was sold for $14 the profit was 40%.
Then, the cost of the article will be $10.
If the article is sold for $16.
Then profit will be
[tex]\rm Profit = \dfrac{selling\ price \ - \ cost\ price}{cost\ price}*100\\\\\rm Profit = \dfrac{16-10}{10}*100\\\\\rm Profit = 60 \%[/tex]
Thus, the profit will be 60%.
More about the percentage link is given below.
https://brainly.com/question/8011401
