SOLUTION: A shopkeeper buys eggs in boxes of 60 for $1800. He sells them at $540 per dozen. Did he make a profit or loss? What was the profit or loss as a percentage of the cost price?
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-> SOLUTION: A shopkeeper buys eggs in boxes of 60 for $1800. He sells them at $540 per dozen. Did he make a profit or loss? What was the profit or loss as a percentage of the cost price?
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Question 1183049: A shopkeeper buys eggs in boxes of 60 for $1800. He sells them at $540 per dozen. Did he make a profit or loss? What was the profit or loss as a percentage of the cost price?
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A shopkeeper buys eggs in boxes of 60 for $1800. He sells them at $540 per dozen.
(a) Did he make a profit or loss?
(b) What was the profit or loss as a percentage of the BUYINGCOST?
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Profit = selling cost - buying cost.
Buying cost of 60 eggs is $1800 (given).
Selling cost of 60 eggs is, according to the problem, = 540*5 = $2700.
Profit = $2700 - $1800 = $900. So, the seller makes a profit.
The profit as a percentage to the buying cost is = 50%.
Solved and explained.
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