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A shopkeeper bought 25 school blazers at €30 each and 25 trousers at €20 each - Leaving Cert Mathematics - Question 1 - 2014
Question 1
A shopkeeper bought 25 school blazers at €30 each and 25 trousers at €20 each. (a) Find the total cost to the shopkeeper. (b) The shopkeeper sells a blazer and a t... show full transcript
Worked Solution & Example Answer:A shopkeeper bought 25 school blazers at €30 each and 25 trousers at €20 each - Leaving Cert Mathematics - Question 1 - 2014
Step 1
Find the total cost to the shopkeeper.
Answer
To find the total cost to the shopkeeper, we calculate:
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Cost of Blazers: Number of blazers = 25, Price per blazer = €30 Therefore, total cost for blazers = 25 × €30 = €750.
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Cost of Trousers: Number of trousers = 25, Price per trouser = €20 Therefore, total cost for trousers = 25 × €20 = €500.
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Total Cost: Total cost = Cost of blazers + Cost of trousers = €750 + €500 = €1250.
Step 2
Find her profit on this transaction.
Answer
The selling price for a blazer and trousers set is €89.95. The cost of one blazer and one trouser is:
- Cost of Blazer: €30
- Cost of Trouser: €20
Total cost for the set = €30 + €20 = €50.
Now, to find the profit:
- Profit = Selling price - Cost price = €89.95 - €50 = €39.95.
Step 3
Find her mark up (profit as a percentage of cost price) on the total transaction.
Answer
To find the total transaction details:
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Selling Price of 22 Sets: Selling price per set = €89.95 Thus, total for 22 sets = 22 × €89.95 = €1978.90.
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Selling Price of Remaining 3 Sets: Discount on selling price = 20%. Therefore, discounted price = €89.95 × (1 - 0.20) = €71.96 per set. Total for 3 sets = 3 × €71.96 = €215.88.
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Total Revenue: Total revenue from all sets = €1978.90 + €215.88 = €2194.78.
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Cost of 25 Sets: Cost price of 25 sets = Total cost to the shopkeeper = €1250.
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Total Profit: Total profit = Total revenue - Cost price = €2194.78 - €1250 = €944.78.
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Markup Percentage: Markup percentage = (Profit / Cost price) × 100 = (€944.78 / €1250) × 100 ≈ 75.58%.