A weaver bought a bundle of grass for $ 50.00 from which he made 8 mats. If each mat was sold for $ 15.00, find the percentage profit.

  • A 240%
  • B 140%
  • C 120%
  • D 40%
waec 2022mathematics

The correct answer is B. 140%

cost price = $50

Selling price = 15 * 8 = $120

percentage profit = \(\frac{sp-cp}{cp}\) * 100 â†’  \(\frac{120-50}{50}\) * 100

percentage profit = 70 * 2 â†’ 140%

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