John paid a sum of money for purchasing 30 pens, which he recovered in full when he sold 20 of them....
John paid a sum of money for purchasing 30 pens, which he recovered in full when he sold 20 of them. What was his percentage of profit or loss per pen?
Answer/Solution
50%
Steps/Work
A
50%
If the sum he paid whilst purchasing 30 pens = A,
Then the Cost Price of each pen = A/30.
Since the amount he got whilst selling 20 pens is also = A
Then the Selling Price of each pen = A/20.
Since Selling Price > Cost Price, he made a profit.
Profit per pen = Selling Price - Cost Price = A/20 - A/30 = A/60.
Profit percentage per pen = Profit per pen / Cost per pen x 100 = (A/60) / (A/30) x 100 = 50%
50%
If the sum he paid whilst purchasing 30 pens = A,
Then the Cost Price of each pen = A/30.
Since the amount he got whilst selling 20 pens is also = A
Then the Selling Price of each pen = A/20.
Since Selling Price > Cost Price, he made a profit.
Profit per pen = Selling Price - Cost Price = A/20 - A/30 = A/60.
Profit percentage per pen = Profit per pen / Cost per pen x 100 = (A/60) / (A/30) x 100 = 50%