Question

Eggs are bought for 80c each and sold for R15 per dozen. What is the percentage profit (rounded off to the nearest percentage) made on the eggs? Show all your steps and reasoning.

Answer 1

The percentage profit made on the eggs is 56.25%

Data;

• Cost price = 80c
• Number of eggs = 1 dozen = 12 eggs
• Selling price = R15

Percentage Profit

This is the ratio between the profit to the cost price multiplied by 100.

But 1 R = 100 cents

15 R = x

$1R = 100c\\15R = x\\x = 15 * 100\\x = 1500c$

The Cost price for 1 dozen is

$80 * 12 = 960c$

The cost price of the eggs is 960c

The percentage profit here will be

$\% profit = \frac{selling price - cost price}{cost price} * 100\\\% profit= \frac{1500-960}{960}*100\\ \%profit = \frac{540}{960}*100\\ \% profit= 56.25 \%$

The percentage profit made on the eggs is 56.25%

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