Question

(2) A lady bought 120 apples for $100 and sells them for $1.30 each. Calculate the percentage profit.

(3) Raymond bought a bicycle for $400.00 and sold it for $350.00. Calculate his percentage profit or loss.

Answer 1

Answer:

(2) 57℅ (Approximately)

(3) 12.5%

Step-by-step explanation:

(2)Cost price of 120 apples is $100

So, Cost price of 1 apple is 100/120= $0.83

Selling price of 1 apple is $1.30

Then, % profit = Selling Price - cost price /cost price × 100= 1.30-0.83/0.83×100 =57% (Approximately)

(3) Cost price of the bicycle is $400

Selling price is of the bicycle is $ 350

So, Loss= cost price - selling price = $400-$350=$50

Then, %Loss = 50/400×100= 12.5%