A person buys a horse for 15 pounds. after one year, he sells it for 20 pounds. after one year, again he buys the same horse at 30 pounds and sells it for 40 pounds. what is the overall profit percent for that person over both the transactions?
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Answered by
3
In the first year the profit is 20-15 = 5 pounds
In the second year the profit is 40-30= 10 pounds
so total profit = 5 + 10 = 15 pounds
I think this makes sense..
In the second year the profit is 40-30= 10 pounds
so total profit = 5 + 10 = 15 pounds
I think this makes sense..
Answered by
1
Answer:
The profit percent is 33.33%.
Step-by-step explanation:
Given, that a person buys 1 horse for 15 pounds & sells it for 20 pounds another horse at 30 pounds and sells it for 40 pounds.
To find profit percent for both transactions.
Total cost price of the horses= 15+30 = 45 pounds.
Total selling price for both the horses= 20+40 =60 pounds.
Profit = 60-45
=15 pounds.
Profit %= (profit*100)/cost price.
= 15*100/45
=33.33%
Therefore, the overall profit percent is 33.33%.
#SPJ2
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