Question

Molly bought a pair of gloves and a skirt. The gloves cost £4. She sold the gloves and the skirt for a total of £48. She made 100% profit on the gloves. She made 20% profit on the total cost. Work out her percentage profit on the cost of the skirt. Give your answer to 1 decimal place.

Answer 1

Given:

Cost of the gloves = £4

Selling Price of the gloves and skirt = £48

Profit from the glove = 100%

Total profit = 20%

To Find:

Percentage profit of the skirt

Solution

Find the profit made on the gloves:

$\text{Profit} = 100\% \times \£\:4$

$\text{Profit} = 1 \times 4$

$\text{Profit} = \£\:4$

Find the selling price of the gloves:

$\text{Selling Price} = \text{Cost Price} + \text{Profit}$

$\text{Selling Price} = \text{4} + \text{4}$

$\text{Selling Price} = \£\:8$

Find the selling price of skirt:

$\text{Selling Price of the skirt} = \text{Total selling Price} - \text{Selling Price of the gloves}$

$\text{Selling Price of the skirt} = 48 - 8$

$\text{Selling Price of the skirt} = \£\:40$

Find the total profit made:

$\text{Total profit } = 20\% \times 48$

$\text{Total profit } = 0.2 \times 48$

$\text{Total profit } = \£ \:9.60$

Find the profit made from the skirt:

$\text{Profit from the skirt} = 9.60 - 4$

$\text{Profit from the skirt} = \£\:5.60$

Find the cost price of the skirt:

$\text{Cost Price of the skirt} = \text{Selling Price} - \text{Profit}$

$\text{Cost Price of the skirt} = 40 - 5.60$

$\text{Cost Price of the skirt} = \£\:34.40$

Find the percentage profit made on the skirt:

$\text{Profit Percentage }= \dfrac{\text{profit}}{\text{cost price}} \times 100$

$\text{Profit Percentage }= \dfrac{\text{5.60}}{\text{34.40}} \times 100$

$\text{Profit Percentage }= 16.3\%$

$\textbf{Answer = 16.3\%}$

Answer 2

Answer:

16.3%

Step-by-step explanation: