Mrs. Agbi bought 360 oranges at N15.00 for 40. She sold them all for N162.00. Find her percentage profit

1. Break Down the Problem

To find Mrs. Agbi's percentage profit, we need to:

1. Calculate the total cost of the oranges.
2. Determine the total selling price.
3. Calculate the profit made by finding the difference between the total selling price and the total cost.
4. Calculate the percentage profit using the formula for percentage profit.

2. Relevant Concepts

• Total Cost = (Cost per bulk) × (Number of bulk)
• Total Selling Price = Selling Price
• Profit = Total Selling Price - Total Cost
• Percentage Profit = (Profit / Total Cost) × 100%

3. Analysis and Detail

1. Calculate the total cost: $\text{Total Cost} = \left( \frac{360}{40} \right) \times 15 = 9 \times 15 = 135$

2. The total selling price is given as N162.00.

3. Calculate the profit: $\text{Profit} = \text{Total Selling Price} - \text{Total Cost} = 162 - 135 = 27$

4. Calculate the percentage profit: $\text{Percentage Profit} = \left( \frac{\text{Profit}}{\text{Total Cost}} \right) \times 100 = \left( \frac{27}{135} \right) \times 100$ Simplifying it further: $\frac{27}{135} = 0.2 \quad \Rightarrow \quad 0.2 \times 100 = 20\%$

4. Verify and Summarize

The calculations have been conducted step-by-step, confirming that all values are accurate.

Final Answer

Mrs. Agbi's percentage profit is 20%.