Question

A weaver bought a bundle of grass of 50.00 dollars from which he made 8 mats if each mats was sold for 15.00 dollars find the percentage profit

Answer 1

The percentage profit is 140%

What is percentage?

Percentage can be described as the expression of a number in hundredth.

The formula for calculating percentage profit is

profit/cost price × 100

cost price=  $50
selling price= $15
number of mats produced= 8

selling price of the mat= 15 × 8
= 120

Profit= selling price-cost price

= 120-50
$70

Therefore the percentage profit can be calculated as follows

= 70/50 × 100
= 1.4 ×100
= 140

Thus, the percentage profit is 140%

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