Question

Divine bought 96 tins of milk for 3360.00 naira and sold them at 39.00 naira each. calculate his profit on the 96 tins of milk​

Answer 1

Based on the calculations, the profit on 96 tins of milk is equal to 384 naira.

Given the following data:

• Quantity of milk = 96 tins

• Cost price = 3360.00 naira

• Selling price = 39.00 naira each.

To calculate the profit on this 96 tins of milk​:

How to calculate profit.

In this exercise, you're required to determine the amount of profit that was made by Divine for selling 96 tins of milk at 39.00 naira each.

First of all, we would calculate the total sales price or the amount of money he made from selling 96 tins of milk at 39.00 naira each.

$Total\;sales = 96 \times 39$

Total sales = 3744 naira.

Now, we can calculate the profit by using this formula:

$Profit = Total\;sales - Cost\;price$

Substituting the parameters into the formula, we have;

$Profit = 3744 -3360$

Profit = 384 naira.

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