JAMB - Mathematics (2024 - No. 18)
A boy bought Oranges at the rate of #24.00 for 5 and sold it at the rate of # 30.00 for 4 Oranges. Find the profit made of the ones sold
# 24.00
#30.00
# 10.80
#20.00
Explanation
The boy bought 5 oranges for #24.00. Therefore, the cost price per orange is: c.p = \(\frac{24}{5}\) = #4.800
The boy sold 4 oranges for #30.00. Therefore, the selling price per orange is: s.p = \(\frac{30}{4}\) = # 7.50
Profit per orange is calculated as:
Profit per orange = SP per orange − CP per orange = =7.50 − 4.80 = 2.70
If the boy sold 4 oranges, the total profit from selling 4 oranges is: Total Profit = 4 × 2.70 = #10.80
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