Answer:
Josh's percentage profit would be 52.5%.
Explanation:
Total cost:
Josh buys 120 books for £4 each, so the total cost is:
Total cost = 120 books * £4/book = £480
Total revenue:
Josh sells half of the books for £5 each, which means he sells (1/2) * 120 = 60 books at £5 each. So, the revenue from this sale is:
Revenue = 60 books * £5/book = £300
Josh also sells 40% of the books for £7 each, which means he sells 0.4 * 120 = 48 books at £7 each. So, the revenue from this sale is:
Revenue = 48 books * £7/book = £336
The remaining books that Josh sells at £8 each are (1 - 0.5 - 0.4) = 0.1 or 10% of the total books. Therefore, the revenue from this sale is:
Revenue = 10% * 120 books * £8/book = £96
Total revenue = £300 + £336 + £96 = £732
Profit:
Profit = Total revenue - Total cost = £732 - £480 = £252
Percentage profit:
Percentage profit = (Profit / Total cost) * 100%
Percentage profit = (£252 / £480) * 100% ≈ 52.5%
Therefore, Josh's percentage profit is approximately 52.5%.