A trader bought 300 bags of cement for 10,800 naira and sold them at 40 naira per bag what is his percentage profit
The total cost of buying 300 bags of cement is 10,800 naira.
The selling price of each bag of cement is 40 naira.
The total selling price of 300 bags of cement is 300 * 40 = 12000 naira.
The profit made is 12000 - 10800 = 1200 naira.
The percentage profit is (1200/10800) * 100 = 11.11%
An article costing 25 naira was sold for 20 naira what is the gain or loss
The article was sold for 20 naira, which is less than the cost price of 25 naira. The difference between the selling price and the cost price is a loss.
The loss is 25 - 20 = 5 naira.
Therefore, there is a loss of 5 naira.
To determine the percentage profit, we need to calculate the profit made by the trader first.
The trader bought 300 bags of cement for 10,800 naira, which means the cost per bag can be calculated as:
Cost per bag = Total cost / Number of bags
Cost per bag = 10,800 / 300
Cost per bag = 36 naira
Next, we calculate the total revenue earned by selling the bags of cement at 40 naira per bag:
Total revenue = Selling price per bag * Number of bags
Total revenue = 40 * 300
Total revenue = 12,000 naira
To calculate the profit, subtract the total cost from the total revenue:
Profit = Total revenue - Total cost
Profit = 12,000 - 10,800
Profit = 1,200 naira
Lastly, we determine the percentage profit:
Percentage profit = (Profit / Total cost) * 100
Percentage profit = (1,200 / 10,800) * 100
Percentage profit = 0.1111 * 100
Percentage profit ≈ 11.11%
Therefore, the trader's percentage profit is approximately 11.11%.
To calculate the percentage profit, you need to determine the profit made and then express it as a percentage of the cost price.
First, let's calculate the profit made:
Selling price of 1 bag = 40 naira
Cost price of 1 bag = Total cost / Number of bags = 10,800 naira / 300 bags = 36 naira
Profit per bag = Selling price - Cost price = 40 naira - 36 naira = 4 naira
Now, let's calculate the total profit made:
Total profit = Profit per bag * Number of bags = 4 naira/bag * 300 bags = 1,200 naira
To find the percentage profit, divide the profit by the cost price and then multiply by 100:
Percentage profit = (Total profit / Total cost) * 100
= (1,200 naira / 10,800 naira) * 100
= 0.1111 * 100
= 11.11%
Therefore, the trader's percentage profit is 11.11%.