Question

24. John buys 20 bunches of bananas

For N5. He sells them all for N6.50.
What is his percentage profit?
(a) 3/12%
(b) 20%
(c) 30%
(d) 762/13%
(e) 77%​

Answer 1

30%

Explanation:

Profit(Gain)% =
`(Selling price - Cost price)/(Cost price) * 100%`

Selling price = N6.50

Cost price = N5

∴ Profit% =
`(N6.50 - N5 )/(N5) * (100)/(1)`

=
`(1.5)/(5) * (100)/(1)`

= (1.5 * 20)%

= 30%

Hope this helps!!!