Question

Kaylee buys 2400 kg of potato for $5.76 per kg. However during her trip to the market she finds 4% of the potatoes are spoiled. If she sells each kg of potato at $6.60 what is her profit percentage

Answer 1

Cost Price of 2400 kg potatoes = 2400×5.76 =$13824

4% of potatoes are spoiled it means remaining are 96%

so remaining = 96% of 2400 =96/100 ×2400= 2304


Now selling price of 2304 kg potatoes = 2304 × 6.60 =$ 15206.4


profit =15206.4 - 13824 = $1382.4


profit percentage = profit/cost price ×100

= 1382.4/13824 ×100 =1/10 ×100

= 10%