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.

Answer Details

The weaver bought a bundle of grass for $50.00 and made 8 mats from it. Therefore, the cost of each mat is $50.00/8 = $6.25. If each mat is sold for $15.00, then the profit per mat is $15.00 - $6.25 = $8.75. To find the percentage profit, we need to calculate the profit as a percentage of the cost. Profit percentage = (Profit/Cost) x 100% Profit percentage = ($8.75/$6.25) x 100% Profit percentage = 140% Therefore, the weaver made a 140% profit on the sale of each mat. The answer is (b) 140%.