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MATHEMATICS PRACTICE QUESTIONS

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PROFIT & LOSS

1.

Abiola starts a business with $1,250.00. Frances joins the business later with a capital of $1,875.00. At the end of the first year, profits are shared equally between Abiola and Frances. When did Frances join the business?

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2.

A car dealer made a profit of 22.5% by selling a car for GH₵ 58,000.00. Find, correct to two decimal places, the percentage profit if the car had been sold for GH₵ 61,200.00

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3.

Two commodities X and Y cost D70.00 and D80.00 per kg respectively. If 34.5 kg of X is mixed with 26 kg of Y and the mixture is sold at D85.00 per kg, calculate the percentage profit.

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