Profit percentage for weaver after selling mat is equals to 140%.
What is percentage ?
" Percentage is defined as the hundredth part of the whole given quantity. It is represented by symbol %."
Formula used
Profit% = [tex](\frac{Profit }{cost price} )[/tex]× 100
According to the question,
Given,
Cost price of bundle of grass = $50.00
Number of mats made = 8
Selling price of each mat = $15.00
Therefore,
Selling price of 8 mats = 15 × 8
= $120
Selling price > Cost price
Therefore,
Profit = Selling price - Cost price
= 120 - 50
= $70
Substitute the value in the formula to get profit percentage we get,
Profit% = [tex]\frac{70}{50}[/tex] ×100
= 140%
Hence, profit percentage for weaver after selling mat is equals to 140%.
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