Sonja bought an old bike for $20. She spent $47 on parts and paint and then renovated it.She sold it for $115 through her local newspaper. The advertisement cost $10.Question 1Workboarda. What were her total costs? Total costs = $SUBMIT (ATTEMPT 1 OF 2)Question 2Workboardb. What percentage profit did she make on costs? Give your answer correct to the nearest whole percentage. Percentage profit = %SUBMIT (ATTEMPT 1 OF 2)Question 3Workboardc. What percentage profit did she make on the selling price? Give your answer correct to the nearest whole percentage. Percentage profit = %
Question
Sonja bought an old bike for 47 on parts and paint and then renovated it.She sold it for 10.Question 1Workboarda. What were her total costs? Total costs = $SUBMIT (ATTEMPT 1 OF 2)Question 2Workboardb. What percentage profit did she make on costs? Give your answer correct to the nearest whole percentage. Percentage profit = %SUBMIT (ATTEMPT 1 OF 2)Question 3Workboardc. What percentage profit did she make on the selling price? Give your answer correct to the nearest whole percentage. Percentage profit = %
Solution
Question 1: a. Total costs = Cost of bike + Cost of parts and paint + Advertisement cost Total costs = 47 + 77
Question 2: b. Profit = Selling price - Total costs Profit = 77 = 38 / $77) * 100 = 49.35%, which rounds to 49% to the nearest whole percentage.
Question 3: c. Percentage profit on the selling price = (Profit / Selling price) * 100 Percentage profit on the selling price = (115) * 100 = 33.04%, which rounds to 33% to the nearest whole percentage.
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