Multiple choice

Passage

Directions: Study the following information and answer the question that follows. The table below shows the percentage profit or loss of five different commodities based on the sum of cost price and shipping cost. Name of Goods Cost Price (in million dollars) Selling Price (in million dollars) Cost of Shipping (in million dollars) Profit (in million dollars) Loss (in million dollars) Profit or Loss % Sugar 90 30 Salt 80 0 30 Vegetable oil 200 50 25 Grains 500 0 5% loss Wine 600 40 7% profit

If the percentage profit on sugar is 5%, what is its selling price?

  1. $110 million
  2. $126 million
  3. $133 million
  4. $152 million

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
AI explanation

The total cost for sugar is the sum of its cost price and shipping cost, which is $90 million + $30 million = \$120 million. Using the profit formula, Selling Price = Total Cost * (1 + Profit%), we get Selling Price = \$120 million * 1.05. The selling price of sugar is \$126 million. The answer is \$126 million.

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