A man bought 80 apples for $32. He found that 25% of the apples were bruised and he sold the good ones at $0.60 each. Did the man make a profit or loss?
Question
A man bought 80 apples for 0.60 each. Did the man make a profit or loss?
Solution
First, let's determine the number of bruised apples. Since 25% of the apples were bruised:
So, the number of good apples is:
Next, let's calculate the revenue from selling the good apples. Each good apple is sold at $0.60:
Now, let's determine the cost of the apples. The man bought 80 apples for $32:
Finally, let's calculate the profit or loss. The profit or loss is the difference between the revenue and the cost:
Since the result is positive, the man made a profit of $4.
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