Ans: (a) $\$400$ (b) $15\%$
- The cost of the handbag
$\begin{array}{cl}
= & \$560\div(1+40\%) \\
= & \$400
\end{array}$ - The percentage profit
$\begin{array}{cl}
= & \dfrac{\$460-\$400}{\$400}\times 100\% \\
= & 15\%
\end{array}$
