A businessman makes a profit of 20% when he sells a carpet for Ksh 36 000. In a trade fair he sold one such carpet for Ksh 33 600. Calculate the percentage profit made on the sale of the carpet during the trade fair.
120%=36000
100%=?
(100*36000)÷120
=sh.30000
P=33600-30000
=sh.3600
%p= p÷mp x 100
=3600÷30000 x 100
=12%
Wow I like that its easy and simplified. congrats
.2 * 36,000 = 7,200 is the profit he would have had if sold at full price.
36,000 - 7,200 = Base price
Base price + profit = 33,600
Can you take it from there?
To calculate the percentage profit made on the sale of the carpet during the trade fair, we first need to find the cost price of the carpet during the trade fair.
We know that the businessman made a profit of 20% when he sold a carpet for Ksh 36,000, meaning the selling price was 120% of the cost price (100% + 20% = 120%).
Using this information, we can calculate the cost price of the carpet during the trade fair as follows:
Cost Price = Selling Price / (1 + Profit Percentage)
Cost Price = Ksh 36,000 / 1.20
Cost Price = Ksh 30,000
Now, we can calculate the profit made during the trade fair by subtracting the cost price from the selling price:
Profit = Selling Price - Cost Price
Profit = Ksh 33,600 - Ksh 30,000
Profit = Ksh 3,600
Finally, we can calculate the percentage profit made on the sale of the carpet during the trade fair:
Percentage Profit = (Profit / Cost Price) x 100
Percentage Profit = (Ksh 3,600 / Ksh 30,000) x 100
Percentage Profit = 12%
Therefore, the businessman made a profit of 12% on the sale of the carpet during the trade fair.