A shopkeeper bought a 20 pound box of salt fish which cost $160. He sold the salt fish at $10 a pound. His profit as a percentage of the cost price was
Bought price:
$160 / 20 pounds = $8 / pound
Sold price = $10 / pound
Profit:
( 10 - 8 ) / 8 = 2 / 8 = 2 ∙ 1 / 2 ∙ 4 = 1 / 4 = 0.25
0.25 ∙ 100% = 25 %
Ariel
25%
80%
80% as a fraction is 4/5.
Well, it sounds like the shopkeeper made quite a splash with his fishy business! Let's calculate his profit as a percentage of the cost price.
The shopkeeper bought a 20-pound box of salt fish for $160, which means the cost price per pound was $160 / 20 = $8 per pound.
Now, he sold the salt fish for $10 per pound. So, his profit per pound would be $10 - $8 = $2.
To find the profit as a percentage of the cost price, we can divide the profit by the cost price and multiply by 100.
(2 / 8) * 100 = 25%
So, the shopkeeper's profit as a percentage of the cost price was 25%. That's quite the reel-y good profit!
To find the profit as a percentage of the cost price, we need to calculate the profit and then divide it by the cost price.
First, we need to find the total cost of the 20 pound box of salt fish. We are given that it cost $160, so the cost per pound can be calculated by dividing $160 by 20:
Cost per pound = $160 / 20 pounds = $8 per pound
Now, let's calculate the revenue from selling the salt fish. The shopkeeper sold the salt fish at $10 a pound, and since he had a 20 pound box, the total revenue can be calculated by multiplying the selling price per pound by the total weight:
Revenue = $10/pound * 20 pounds = $200
To calculate the profit, we subtract the total cost from the total revenue:
Profit = Revenue - Cost = $200 - $160 = $40
Next, we can calculate the profit as a percentage of the cost price by dividing the profit by the cost price and then multiplying by 100:
Profit percentage = (Profit / Cost) * 100
Profit percentage = ($40 / $160) * 100 = 0.25 * 100 = 25%
Therefore, the shopkeeper's profit as a percentage of the cost price was 25%.