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Mrs. Jones bought 250 apples for $22,500. She sold 50 for $120 each, and the remainder she sold 5 for $1000 a parcel.(a) State whether she made a profit or loss.(b) Calculate her percentage profit or percentage loss. |
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Answer» Given: TOTAL number of apples = 250 Price paid for 250 apples = $22,500 Apples sold = 50 Price at which 50 apples were sold = $120 Remaining 5 apples sold = $1000 To find: Profit or loss and the profit/loss %. Solution: Since 50 apples were sold for 1200, thus price - 50 x 120 = 6000 Next, 200 apples were sold at $1000 per 5 apples, Thus, 200/5 x 1000 = 200000/5 = 40,000 Total sale price - 40,000 + 6000 = $46,000 Total profit = 46000 - 22500 = $23,500 Now, profit % - = Profit x 100 / Cost Price = 23500/22500 x 100 = 104% ANSWER: Mrs. Jones made a profit of $23,500 and the profit % is 104%. |
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