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WAEC Mathematics 2022 Paper

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Question : 7

Total: 47

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.

240%
140%
120%
40%

Solution:

Concept:

Profit percentage is calculated on the cost price after finding the total selling price of all mats.

Explanation:

Cost price of the bundle

= \$50.00

Number of mats made

= 8

Selling price of each mat

= \$15.00

Total selling price

= 8 \times 15 = \$120.00

Profit

= \text{Selling Price} - \text{Cost Price}

Profit

= 120 - 50 = \$70.00

Percentage profit

= \frac{\text{Profit}}{\text{Cost Price}} \times 100

Percentage profit

= \frac{70}{50} \times 100 = 140\%

Answer:

B.

140\%

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