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Question

A boy buys a school bag for ₦4,000 and sells it for ₦4,800. What is his percentage profit?

Verified Answer

20%20\%

Explanation & Step-by-Step Solving

Solving: Profit=4,800−4,000=800\text{Profit} = 4,800 - 4,000 = 800. Percentage Profit=8004000×100%=15×100%=20%\text{Percentage Profit} = \frac{800}{4000} \times 100\% = \frac{1}{5} \times 100\% = 20\%.

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