Question 7
Commercial ArithmeticA 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.
- A.240%
- B.140%
- C.120%
- D.40%
Show the answer and explanation
Answer: B (140%)
Explanation
He sold the mats for 8 × $15 = $120, a profit of $70 on $50. 70/50 × 100 = 140%.