A shopkeeper bought 100 eggs for N800.00. Out of them, 20 were cracked. He sold the cracked eggs N12 each and the rest as N20 each. Calculate the profit or loss percent.
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cost price/egg = N800/100 = N8
revenue from cracked eggs = 20(N12) = N240
revenue from whole eggs = 80(N20) = N1600
total profit N1840 - N800 = N1040
percent profit = 1040/800 = 1.3 = 130%
Total cost of eggs = 100 x N800.00 = N80,000.00
Cost of cracked eggs = 20 x N12.00 = N240.00
Cost of uncracked eggs = 80 x N20.00 = N1,600.00
Total cost of eggs sold = N240.00 + N1,600.00 = N1,840.00
Profit/Loss = N1,840.00 - N80,000.00 = -N78,160.00
Profit/Loss % = -N78,160.00/N80,000.00 x 100 = -97.7%
Therefore, the shopkeeper made a loss of 97.7%.