Each month, Kofi ’s cheese shop sells 68 lb of
cheddar cheese and 36 lb of Swiss cheese.
He buys the cheddar cheese in 10 lb blocks
for $96.50 each and the Swiss cheese in 3 lb
rounds for $37.00 each. He then divides the
cheese into smaller 4 oz packages, which he
sells for $4.50 each. He discards unsold cheese
at the end of each month. How much profit
does he make on cheddar cheese each year?
Answers
Given : Each month, Kofi ’s cheese shop sells 68 lb of cheddar cheese . He buys the cheddar cheese in 10 lb blocks for $96.50 each. He then divides the cheese into smaller 4 oz packages, which he sells for $4.50 each.
To find : How much profit does he make on cheddar cheese each year
Solution:
Kofi ’s cheese shop sells 68 lb of cheddar cheese Each month
Buy cheddar cheese in 10 lb blocks for $96.50 each
=> 68/10 = 6.8 => 7 blocks to be bought
Hence Cost Price = 7 * 96.5 = 675.5 $
68 lb = 68 * 16 ozs
Smaller package = 4 ozs
Number of Packages = 68 * 16/4 = 272 packages
Each package selling price = $ 4.5
Selling Price of Cheddar Cheese = 272 * 4.5 = 1224 $
Profit Each Months on Cheddar Cheese = 1224 - 675.5 = 548.5 $
Profit in year on Cheddar Cheese = 12 * 548.5
= 6582 $
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