Mathematics for IGCSE & O level - Percentages (Section 5 - No. 8)
A shopkeeper buys 100 cups for $1.20 each. He sells 80 of them, making a profit of 15% on each. He sells the remaining 20 at 95c each. What is his overall percentage profit?
11.6%
12.0%
13.0%
13.2%
Explanation
Cost of 100 cups = 100 * $1.20 = $120. Selling price of 80 cups = 80 * ($1.20 * 1.15) = $110.40. Selling price of 20 cups = 20 * $0.95 = $19. Total revenue = $110.40 + $19 = $129.40. Profit = $129.40 - $120 = $9.40. Percentage profit = ($9.40 / $120) * 100 = 7.83%
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