The selling price of 30 items is equal to the purchasing price of 25 items. What is the profit percent? 25% 20% 16.67% 20.33%
Question
The selling price of 30 items is equal to the purchasing price of 25 items. What is the profit percent? 25% 20% 16.67% 20.33%
Solution
Let's solve this step by step:
Step 1: Let's assume the purchasing price of one item is 25.
Step 2: According to the problem, the selling price of 30 items is also 25/30 = $0.8333.
Step 3: Now, we can calculate the profit for one item. The profit would be the selling price of one item minus the purchasing price of one item. So, the profit is 1 = -$0.1667.
Step 4: Since the profit is negative, there is actually a loss, not a profit. Therefore, none of the options provided are correct.
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