A shopkeeper buys 40 kg of fruits for N120.00. He sells 20 kg at N5.00 per kg, 10 kg at N3.00 per kg, 5 kg at N2.00 per kg and the remaining 5 kg at 50k per kg. Calculate the :
(a) amount he realises from the sales ;
(b) total profit / loss ;
(c) percentage profit/ loss on his outlay of N120.00.
Verified Correct Answer: .
Step-by-Step Mathematical Solution
(a) 20 kg at N5.00 each = N100.00
10 kg at N3.00 each = N30.00
5 kg at N2.00 each = N10.00
5 kg at 50k each = N2.50
Total = N 142.50.
(b) Selling price = N142.50
Cost price = N120.00
\(\therefore\) Profit = N(142.50 - 120.00) = N22.50.
(c) \(% profit = \frac{22.5}{120} \times 100%\)
= \(\frac{45}{240} \times 100% = 18.75%\)
Source: Myschool Past Questions Archive (Record #54495)