Question

A retailer purchased 117 units for a total of$ 1,250 and sold them for $1,601 what was his profit per unit?

Answer 1

Number of units purchased = 117

Amount paid to purchase 117 units = $ 1250

Selling price of 117 units = $ 1601

Here, let us assume that all the units were sold at the same price.

So, profit on 117 units =
`1601-1250= 351`

Now, profit per unit will be,

`(351)/(117) =3`

Hence, the profit earned per unit is $3.