An agent buys an item at 70% of its value and sells it at 10% more than its value. What percent of the cost is his profit?

Lets say the initial cost is 100 dollars. The agent would buy it for 70 dollars. If he sold it for 10% more than what he bought it for, he would be selling it for 77 dollars, making a total profit of 37 dollars. This would mean that he made a 48% profit.