MathematicsFractions, decimals, approximations and percentagesWAEC
A trader bought a bag of rice for ₦40,000 and sold it for ₦46,000. Find the percentage profit.
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Answer: C. 15%
Profit = ₦6,000; percentage profit = 6,000/40,000 × 100 = 15%. Profit is measured on the cost price, not the selling price.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.