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A fruit seller sells apples at a profit of 15%. If the cost price of an apple is

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Question: A fruit seller sells apples at a profit of 15%. If the cost price of an apple is $2, what is the selling price?

Options:

  1. $2.30
  2. $2.50
  3. $2.15
  4. $2.20

Correct Answer: $2.30

Solution: 

Selling Price = Cost Price + Profit = 2 + (15% of 2) = 2 + 0.30 = $2.30.

A fruit seller sells apples at a profit of 15%. If the cost price of an apple is

Practice Questions

Q1
A fruit seller sells apples at a profit of 15%. If the cost price of an apple is $2, what is the selling price?
  1. $2.30
  2. $2.50
  3. $2.15
  4. $2.20

Questions & Step-by-Step Solutions

A fruit seller sells apples at a profit of 15%. If the cost price of an apple is $2, what is the selling price?
  • Step 1: Identify the cost price of an apple, which is $2.
  • Step 2: Calculate the profit percentage, which is 15%.
  • Step 3: Find the amount of profit by calculating 15% of the cost price: 15% of $2 = 0.15 * 2 = $0.30.
  • Step 4: Add the profit to the cost price to find the selling price: Selling Price = Cost Price + Profit = $2 + $0.30.
  • Step 5: Calculate the selling price: $2 + $0.30 = $2.30.
  • Profit Calculation – Understanding how to calculate profit as a percentage of the cost price and how to derive the selling price from it.
  • Percentage Application – Applying percentage calculations to real-world scenarios, specifically in financial contexts.
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