Percentages involving Finances: Profit and Loss

Percentages involving Finances: Profit and Loss

TGM Original Questions

A fruit vendor buys \(1000\) packs of strawberry from a farmer at \(\$5\) per pack. All other costs including delivery are \(\$200\) in total. Suppose all packs of strawberry are sold.

  1. Find the selling price per pack of strawberry if the vendor wants to earn a \(60\%\) profit on his total cost.
  2. During delivery, \(17\) packs of the strawberry are damaged, thus cannot be sold. Find the new selling price per pack of strawberry if the vendor wants to earn a same percentage of profit on his total cost. Round your answer to the nearest cent.

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Answer:(i) \(8.32\) dollars per pack (ii) \(8.46\) dollars per pack

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