Answered

A merchant buys an old carpet for $25.00. He spends $15.00 to have it restored to good

condition and then sells the rug for $50.00. What is the percent profit on his total

investment?

Verified Answer :

$25-how much it cost
+$15- restored
Total of $35 spend
$50 earned
- 35 what he spend
Total of 15$
To get the percent u divide 35 by 50=0.7 x100
The profit is 70%

The percent profit on his total 20%.

What is Unitary method?

It is a method where we find the value of a single unit from the value of multiple units and the value of multiple units from the value of a single unit.

Steps to Use Unitary Method

First, let us make a note of the information we have. There are 5 ice-creams. 5 ice-creams cost $125.

  • Step 1: Let’s find the cost of 1 ice cream. In order to do that, divide the total cost of ice-creams by the total number of ice-creams. The cost of 1 ice-cream = Total cost of ice-creams/Total number of ice-creams = 125/5 = 25. Therefore, the cost of 1 ice cream is $25.
  • Step 2: To find the cost of 3 ice-creams, multiply the cost of 1 ice cream by the number of ice-creams. The cost of 3 ice-creams is cost of 1 ice-cream × number of ice-creams = 25 × 3 = $75. Finally, we have the cost of 3 ice-creams i.e. $75.

Given:

Cost of old carpet =$25

He spends $15.00 to have it restored

So, he spend= 25+ 15 = 40

He sells it at = $50

Profit= 50-40 = 10

Profit %= P/ CP 100

Profit % = 10/ 25 100

Profit %=  25% on CP

and, P% on selling price= 10/50* 100 = 20%

Learn more about profit percent here:

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