Shari buys a box of 60 candles for £125 - OCR - GCSE Maths - Question 21 - 2018 - Paper 1
Question 21
Shari buys a box of 60 candles for £125.
She sells the candles for £2.25 each.
Calculate her percentage profit.
Worked Solution & Example Answer:Shari buys a box of 60 candles for £125 - OCR - GCSE Maths - Question 21 - 2018 - Paper 1
Calculate the total sales from selling all candles
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To find the total revenue from selling the candles, multiply the selling price per candle by the number of candles:
extTotalSales=60imes2.25=£135Determine the cost price
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The cost price of the box of candles is given as £125.
Calculate the profit
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Profit can be calculated by subtracting the cost price from the total sales:
extProfit=£135−£125=£10Calculate percentage profit
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Percentage profit is calculated using the formula:
ext{Percentage Profit} = rac{ ext{Profit}}{ ext{Cost Price}} imes 100\
= \frac{10}{125} imes 100 = 8\%
Thus, Shari's percentage profit is 8%.
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