SOLUTION: 16 pens were bought for $5 each and sold at 4 for $30 what is the percentage profit.

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Question 972191: 16 pens were bought for $5 each and sold at 4 for $30 what is the percentage profit.

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
The cost is:
+16%2A5+=+80+
The selling price is:
++30%2A%2816%2F4%29+=+120+
In dollars, the profit is:
+120+-+80+=+40+
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The % profit is:
+40%2F80+=+.5+
+.5%2A%28100%29+=+50+
50% profit