SOLUTION: A dealer buys 50 apples for $40 and sells them for $1.20 each .calculate his percentage profit

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A dealer buys 50 apples for $40 and sells them for $1.20 each .calculate his percentage profit       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1140270: A dealer buys 50 apples for $40 and sells them for $1.20 each .calculate his percentage profit

Answer by ikleyn(52786) About Me  (Show Source):
You can put this solution on YOUR website!
.

His percentage profit is equal to  %28%2850%2A1.20-40%29%2F40%29%2A100 = 50%.


The steps:  a) calculate the profit;  b) relate it to the cost;  c) multiply this ratio by 100 to get a percentage.