A trader made a profit of 3.50 naira on shirts he bought for 28.000 naira how much profit would he Make at the same rate on goods.which he bought for 242 naira

Answer 1

To find the profit at the same rate, we can set up a proportion:

Profit on shirts / Cost of shirts = Profit on goods / Cost of goods

We know that the profit on shirts is 3.50 naira and the cost of shirts is 28,000 naira. Let's plug those values into the proportion:

3.50 / 28,000 = x / 242

To solve for x, we can cross multiply:

3.50 * 242 = 28,000 * x

846 = 28,000 * x

To isolate x, divide both sides of the equation by 28,000:

846 / 28,000 = x

x ≈ 0.0302

So, the trader would make a profit of approximately 0.0302 naira on goods that he bought for 242 naira.