A woman bought 130 kg of tomatoes for 4452,000.00. She sold half of the tomatoes at a profit of 30%. The rest of the tomatoes began to go bad, she then redu...
Question 1 Report
A woman bought 130 kg of tomatoes for 4452,000.00. She sold half of the tomatoes at a profit of 30%. The rest of the tomatoes began to go bad, she then reduced the selling price per kg by 12%. Calculate:
(a) the new selling price per kg;
(ii) the percentage profit on the entire sales if she threw away 5 kg of bad tomatoes.
Answer Details
(Reading the garbled cost as \(\text{N}52{,}000.00\) for \(130\text{ kg}\); the figures divide exactly, supporting this.)
Cost price per kg \(=\dfrac{52000}{130}=\text{N}400\).
First half (65 kg) at 30% profit. Selling price \(=400\times 1.30=\text{N}520\) per kg.
Revenue \(=65\times 520=\text{N}33{,}800\).
(a) New selling price per kg. Reduced by 12%: \(520\times(1-0.12)=520\times 0.88=\mathbf{\text{N}457.60}\) per kg.
(ii) Percentage profit on entire sales. Of the remaining 65 kg she throws away 5 kg, selling \(60\text{ kg}\) at \(\text{N}457.60\):
Revenue \(=60\times 457.60=\text{N}27{,}456\).
Total revenue \(=33800+27456=\text{N}61{,}256\); total cost \(=\text{N}52{,}000\).
Profit \(=61256-52000=\text{N}9{,}256\).
Percentage profit \(=\dfrac{9256}{52000}\times 100\approx \mathbf{17.8\%}\).
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