WAEC 2022 · Paper 1 · Q7

Commercial arithmetic

A weaver bought a bundle of grass for $50.00 from which he made 8 mats. If each mat was sold for $15.00, find the percentage profit.

Worked solution (try it first)

The 8 mats sell for $8 \times 15 = 120$ dollars, $120.
The profit is $120 - 50 = 70$ dollars, $70.
As a percentage of the cost: $\dfrac{70}{50} \times 100\% = 140\%$ , option B.

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