Mathematics for IGCSE & O level - Percentages (Section 1 - No. 37)
A shopkeeper buys 100 cups for $1.20 each, sells 80 of them making a profit of 15% on each, and sells the remaining 20 at 95c each. What is his overall percentage profit?
10.5%
11%
12%
13.2%
Explanation
Cost of 100 cups: 100 * $1.20 = $120. Selling price of 80 cups: 80 * (1.20 * 1.15) = $110.4. Selling price of 20 cups: 20 * $0.95 = $19. Total revenue: $110.4 + $19 = $129.4. Profit: $129.4 - $120 = $9.4. Percentage profit: ($9.4 / $120) * 100 = 7.83%
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