Answer:
67.28 %
Step-by-step explanation:
Given that:
Price at which the coats are bought = $28
Number of coats bought = 50
Total money spent on buying the coats = 50 [tex]\times[/tex] 28 = $1400
Number of coats sold at $49 each = 38
Money earned by selling 38 coats at $49 each = $1862
Number of coats left = 50 - 38 = 12
Money earned by selling 12 coats at $40 each = $480
Total money earned = $1862 + $480 = $2342
To find:
The overall profit percentage made by Mia ?
Solution:
Formula for Profit percentage:
[tex]Profit\% = \dfrac{Sales\ Price - Cost\ Price}{Cost\ Price}\times 100\\\Rightarrow Profit\% = \dfrac{2342 - 1400}{1400}\times 100\\\Rightarrow Profit\%=\dfrac{942}{1400}\times 100\\\Rightarrow Profit\%=67.28\%[/tex]
Therefore, overall percentage profit made by Mia by selling the coats= 67.28 %
