give solution

Question

A trader bought 3 dozen eggs at 3.75 each and wishes to earn 60% profit on selling them all but 1 dozen eggs break in storage .At what price must the trader sell each of the remaining eggs to earn the same profit amount

 

answer is 9

Answer 1

Hi, Maria. Okay, so, the trader paid 3.75 each dozen. We need to find at which point 60 % profit on the 3 dozen is the same as a different price on 2 dozen.

Ok, so first, let's see what 60% profit on 1 dozen is.  3.75x.60 = 2.25 which is 60% profit if you add it to the cost. So 3.75 + 2.25 = $6.00

Now. we need to find the price needed to earn the same profit on only 2 dozen eggs.

6.00(3) = 2X  (Where X is the price charged on 2 dozen eggs)

18.00 = 2X

X = 9.00    So, He would need to sell the 2 dozen eggs at $9.00/dozen