31. 20 pens were bought at $$ \$ 2 $$ each and sold at 2 for $$ \$ 5 $$. What is the percentage profit?

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UpStudy AI · Accepted Answer

**Step 1: Calculate the total cost**

The cost per pen is $$ \$2 $$. Since 20 pens were bought, the total cost is  
$$
\text{Total Cost} = 20 \times 2 = \$40
$$

**Step 2: Calculate the selling price per pen**

The pens are sold at 2 for $$ \$5 $$. Thus, the selling price per pen is  
$$
\text{Selling Price per Pen} = \frac{5}{2} = \$2.50
$$

**Step 3: Calculate the total revenue**

For 20 pens, the total revenue is  
$$
\text{Total Revenue} = 20 \times 2.50 = \$50
$$

**Step 4: Calculate the profit**

The profit is the total revenue minus the total cost:  
$$
\text{Profit} = 50 - 40 = \$10
$$

**Step 5: Calculate the percentage profit**

The percentage profit is given by the formula  
$$
\text{Percentage Profit} = \left(\frac{\text{Profit}}{\text{Total Cost}}\right) \times 100
$$
Substitute the values:  
$$
\text{Percentage Profit} = \left(\frac{10}{40}\right) \times 100 = 25\%
$$

Thus, the percentage profit is $$ 25\% $$.
The percentage profit is 25%.

31. 20 pens were bought at \( \$ 2 \) each and sold at 2 for \( \$ 5 \). What is the percentage profit?

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