Question

An industrial fertiliser, costing $370 per tonne to produce, is sold retail at 61 cents per kilogram. If there is a wastage of 2.5%, find the profit as a percentage of the cost
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Answer 1

for t tonnes, the amount actually sold is .975t

cost = 370t
revenue is .61*1000 * .975t = 594.75t

profit/cost = (594.75t - 370t)/370t = 224.75/370 = 60.7%