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Tyrone buys chocolates in bulk to make gift baskets containing different chocolate bars to sell - NSC Mathematical Literacy - Question 1 - 2017 - Paper 1

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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 calculate the total price of the box with Peppermint Crisp bars, multiply the number of bars by the unit price of a bar:

extTotalPrice=40imes8.70=R348.00 ext{Total Price} = 40 imes 8.70 = R348.00

Step 2

1.1.2 Explain the term profit.

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Answer

Profit is defined as the difference between the selling price and the cost price. It represents the amount earned beyond the cost incurred in producing or selling a product. In simpler terms, profit is the financial gain made when the selling price exceeds the cost price.

Step 3

1.1.3 A box with Kit Kat bars costs R435,00. To determine the selling price, Tyrone increases the cost price by 40%.

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Answer

To calculate how much Tyrone adds to the cost price:

extIncreasedAmount=R435imes0.40=R174.00 ext{Increased Amount} = R435 imes 0.40 = R174.00

Step 4

1.1.4a) Determine the total cost price of the gift basket.

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Answer

To find the total cost price of the gift basket, sum up the cost of each item:

extTotalCost=R10,04+R8,70+R20,66+R6,73+R29,99=R76,12 ext{Total Cost} = R10,04 + R8,70 + R20,66 + R6,73 + R29,99 = R76,12

Step 5

1.1.4b) He sells 230 of these gift baskets and receives a total income of R22 770.

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Answer

To determine the selling price of each gift basket, divide the total income by the number of baskets sold:

ext{Selling Price} = rac{R22 770}{230} ext{, which is approximately } R99.00

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