A trader sold a car to Charles for 1250 naira at a profit of 25%. How much profit did the trader make
The original cost price of the car for the trader would be:
CP = (SP / (100% + profit %)) * 100%
CP = (1250 / (100% + 25%)) * 100%
CP = (1250 / 1.25) * 100%
CP = 1000
Therefore, the trader's profit would be:
Profit = SP - CP
Profit = 1250 - 1000
Profit = 250
So the trader made a profit of 250 naira.
To calculate the profit made by the trader, we need to find 25% of the selling price.
Step 1: Convert the percentage to a decimal by dividing it by 100.
25% = 25/100 = 0.25
Step 2: Multiply the selling price by the decimal value obtained in Step 1 to find the profit.
Profit = 0.25 x 1250
Profit = 312.5 naira
Therefore, the trader made a profit of 312.5 naira.