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WAEC Agricultural Science 2007 Question 56

Question 56

Basic Agricultural Economics

A farmer sold all his harvested maize totalling 260 kg at ₦5.50/kg thereby making a profit of ₦430.00. Determine the percentage profit per kg of maize sold.

  1. A.35%
  2. B.40%
  3. C.43%
  4. D.52%.
Show the answer and explanation

Answer: C (43%)

Explanation

Profit = 430 on cost 1,000, i.e. 43%.