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A shopkeeper bought 400 spades which he marked a selling price of sh 35 each. He sold 250 spades at this

      

A shopkeeper bought 400 spades which he marked a selling price of sh 35 each. He sold 250 spades at this price, but on the remainder he allowed a discount of 10% off. The ratio of the marked price to the price that the shopkeeper paid for each spade was 5:4, calculate
a) The profit on a spade sold at a discount as percentage of the cost price
b) the total profit on the whole transaction

  

Answers


John
a) Let the cost be x

5:4 = 35:x

x = $\frac{1}{2}$ x 35

x = sh 28

Discount price per spade

= $\frac{67.38}{360}$ x 35 = sh 31.50

profit = 31.50 - 28

= sh 3.50

% profit = $\frac{3.50}{28}$ x 100

= 12.5%


b) Amount received from 250

spade sold at sh 35

= 250 x 35 = 8750

At sh 31.50

= 31.50 x 150 = 4725

Total sales

= 8750 + 4725

= sh 13475

Buying price

= 40 x 26 = 1200

therefore profit made was

sh 2275
johnmulu answered the question on March 6, 2017 at 07:47


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