Question

A retailer bought plastic cups at 400 naira per dozen and sold them at 40 naira each. Find the profit percentage.

a) 90%
b) 80%
c) 75%
d) 70%

Answer 1

To find the profit percentage, subtract the cost price from the selling price and divide the result by the cost price. Multiply by 100 to get the percentage.

Step-by-step explanation:

The profit percentage can be found by subtracting the cost price (400 naira per dozen) from the selling price (40 naira each) and then dividing the result by the cost price. This gives us the profit per cup, which can be multiplied by 100 to get the profit percentage.

The profit per cup is 40 naira - (400 naira / 12) = 10 naira.

So the profit percentage is (10 naira / (400 naira / 12)) * 100 = 30%.