SajjadAhmad wrote:
If the total cost of 20 pairs of shoes is equal to the total revenue generated from the sale of 25 pairs of shoes, what is the percent of profit or loss made on the sale of each pair of shoes, assuming each pair of shoes cost the same dollar amount and each pair of shoes sold for the same dollar amount?
A25% loss
B25% profit
C20% loss
D20% profit
E5% profit
We can let c = cost per pair of shoes and r = revenue per pair of shoes, and thus:
20c = 25r
4c = 5r
4c/5 = r
Thus:
Profit = r
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