C. $c=42^{\circ}, h=18^{\circ}$
D. $c=64^{\circ}, h=12^{\circ}$
62. A man bought 80 pairs of sandals at *1. 500.00 per pair and sold each pair of the sandals at $* 2,400.00$. Find the percentages profit.
Hint: Percentage Profit =$\frac{\text { Profit }}{\text { cost price }} \times$ 100\%]
A. $45 \%$
B. $52 \%$
c. $60 \%$
D. $72 \%$
63. Ifeanyi borrowed $800,000.00 at $6 \%$ per annum, simple interest and paid R944,000.00 at the end of the loan period. How long was the loan?
$\left[]$ Hint: Interest =$\frac{\text { Principal } \times \text { Rate } \times \text { Time }}{100}\right]$
Answer (2)
The percentage profit from selling the sandals is 60%, and the loan period for Ifeanyi is 3 years.
;
Calculate the profit per pair of sandals: $Profit = $2400 - $1500 = 900 .
Determine the percentage profit: $Percentage\ Profit = \frac{$900}{ 1500} \times 100\% = 60\% .
Calculate the total interest paid: $Interest = $944,000 - $800,000 = 144 , 000 .
Calculate the loan period: $Time = \frac{$144,000 \times 100}{ 800,000 \times 6} = 3\ years . The final answers are 60% and 3 years.
Explanation
Calculate Profit Per Pair First, let's calculate the profit per pair of sandals. The selling price is $2,400.00 and the cost price is $1,500.00. Therefore, the profit per pair is: Profit = Selling Price - Cost Price = $2400 - $1500 = $900
Calculate Percentage Profit Next, we calculate the percentage profit using the formula: P erce n t a g e P ro f i t = C os tP r i ce P ro f i t × 100% Substituting the values, we get: Percentage Profit = \frac{$900}{$1500} \times 100\% = 0.6 \times 100\% = 60\% Therefore, the percentage profit is 60%.
Calculate Total Interest Now, let's determine the duration of the loan. The principal amount is $800,000.00, and the amount paid at the end of the loan period is $944,000.00. The interest rate is 6% per annum. First, we calculate the total interest paid: Interest = Amount Paid - Principal = $944,000 - $800,000 = $144,000
Calculate Loan Period We use the simple interest formula to find the time (loan period): I n t eres t = 100 P r in c i p a l × R a t e × T im e Rearranging the formula to solve for Time, we get: T im e = P r in c i p a l × R a t e I n t eres t × 100 Substituting the values, we get: Time = \frac{$144,000 \times 100}{$800,000 \times 6} = \frac{14,400,000}{4,800,000} = 3 Therefore, the loan period was 3 years.
Final Answer The percentage profit from selling the sandals is 60%, and the loan period is 3 years.
Examples
Imagine you're running a small business buying and selling goods. Calculating percentage profit helps you understand how much money you're actually making on each sale. Similarly, understanding loan interest and duration is crucial when borrowing money for your business. Knowing these calculations allows you to make informed decisions about pricing, investments, and managing your finances effectively, ensuring your business remains profitable and sustainable.
