Tyrone buys chocolates in bulk to make gift baskets containing different chocolate bars to sell - NSC Mathematical Literacy - Question 1 - 2017 - Paper 1
Question 1
Tyrone buys chocolates in bulk to make gift baskets containing different chocolate bars to sell. He buys boxes that contain bars of Peppermint Crisp, Bar-One, Kit Ka... show full transcript
Worked Solution & Example Answer:Tyrone buys chocolates in bulk to make gift baskets containing different chocolate bars to sell - NSC Mathematical Literacy - Question 1 - 2017 - Paper 1
Step 1
1.1.1 Determine the total price of a box with Peppermint Crisp bars if there are 40 bars in a box and the unit price of a bar is R8,70.
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Answer
To find the total price of a box with Peppermint Crisp bars, we multiply the unit price by the number of bars:
extTotalPrice=40imesR8.70=R348.00
Step 2
1.1.2 Explain the term profit.
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Answer
Profit is defined as the amount gained when the selling price of a product is more than its cost price. It can also be viewed as income remaining after all expenses have been deducted. Specifically, profit is:
The surplus earned by selling goods after covering production costs.
A positive difference between total income and total expenditure.
Step 3
1.1.3 A box with Kit Kat bars costs R435,40. To determine the selling price, Tyrone increases the cost price by 40%. Determine the amount that he adds to the cost price.
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Answer
To find the additional amount added to the cost price, use the formula:
