Tade bought 200 mangoes at 4 for ₦2.50. 30 out of the mangoes got spoilt and the remaining were sold at 2 for ₦2.40. Find the percentage profit or loss.
A
43.6% loss
B
35% profit
C
63.2% profit
D
28% loss
Verified Correct Answer: C.
Step-by-Step Mathematical Solution
200 mangoes at 4 for N2.50
\(\implies\) Total cost price = \(\frac{200}{4} \times N 2.50\)
= N 125.00
Since 30 mangoes got spoilt \(\implies\) Left over = 200 - 30
= 170 mangoes
170 mangoes at 2 for N 2.40
\(\implies\) Total selling point = \(\frac{170}{2} \times N 2.40\)
= N 204.00
Profit : N (204.00 - 125.00) = N 79.00
% profit = \(\frac{79}{125} \times 100%\)
= 63.2% profit.
Source: Myschool Past Questions Archive (Record #55055)