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WAEC Mathematics 2015 Paper

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Question : 37

Total: 45

A trader bought 100 oranges at 5 for N40.00 and sold them at 20 for N120.00. Find the profit or loss percent

20% profit
20% loss
25% profit
25% loss

Solution:

Cost price CP of the 100 oranges = $\;\frac{100}{5}$ x N40.00

selling price SP of the 100 oranges =

\;\frac{100}{20}

x N120

= N600.00

so, profit or loss per cent

=

\;\frac{SP\; - \; CP}{CP}

x 100%

=

\;\frac{600\; - \; 800}{800}

x 100%

=

\;\frac{-200}{800}

x 100%

Hence, loss per cent = 25%

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