Renee buys 5 kg of sweets to sell - Edexcel - GCSE Maths - Question 3 - 2018 - Paper 1

Next, we calculate the revenue earned by selling all the bags at 65p each. First, we convert 65p to pounds:

$65 ext{ p} = 0.65 ext{ pounds}$

Now, multiplying the number of bags by the selling price per bag:

$\text{Total Revenue} = 20 ext{ bags} \times 0.65 ext{ pounds/bag} = 13 ext{ pounds}$

To find the profit, we subtract the initial cost from the total revenue:

$\text{Profit} = \text{Total Revenue} - \text{Cost} = 13 ext{ pounds} - 10 ext{ pounds} = 3 ext{ pounds}$

Finally, we calculate the percentage profit using the formula:

$\text{Percentage Profit} = \left( \frac{\text{Profit}}{\text{Cost}} \right) \times 100$

Substituting the values we found:

$\text{Percentage Profit} = \left( \frac{3}{10} \right) \times 100 = 30\%$