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Problems 7, 8, and 9 involving cost price, selling price, and profit calculations.

Mathematics

ScanSolve AI Answer

Answers

2 parts
a

Gh¢0.04576\text{Gh¢}0.04576

b

17.80%17.80\%

40%40\%

Step-by-step solution

5 steps

Here are the solutions to problems 7, 8, and 9.

7.

Step 1: Calculate the cost price per kg of meat.
Total cost = Gh¢22.40
Total quantity = 250 kg

Cost Price per kg (CP/kg)=Total CostTotal Quantity\text{Cost Price per kg (CP/kg)} = \frac{\text{Total Cost}}{\text{Total Quantity}} CP/kg=Gh¢22.40250 kg\text{CP/kg} = \frac{\text{Gh¢}22.40}{250 \text{ kg}} CP/kg=Gh¢0.0896 per kg\text{CP/kg} = \text{Gh¢}0.0896 \text{ per kg}

Step 2: Calculate the selling price per kg to make a 25% profit.
Profit percentage = 25% = 0.25

Selling Price per kg (SP/kg)=CP/kg×(1+Profit Percentage)\text{Selling Price per kg (SP/kg)} = \text{CP/kg} \times (1 + \text{Profit Percentage}) SP/kg=Gh¢0.0896×(1+0.25)\text{SP/kg} = \text{Gh¢}0.0896 \times (1 + 0.25) SP/kg=Gh¢0.0896×1.25\text{SP/kg} = \text{Gh¢}0.0896 \times 1.25 SP/kg=Gh¢0.112\text{SP/kg} = \text{Gh¢}0.112

He should retail it at Gh¢0.112 per kg\boxed{\text{Gh¢}0.112 \text{ per kg}}.

8.

Step 1: Calculate the cost price per kg of tomatoes.
Total cost = Gh¢5.20
Total quantity = 130 kg

Cost Price per kg (CP/kg)=Gh¢5.20130 kg\text{Cost Price per kg (CP/kg)} = \frac{\text{Gh¢}5.20}{130 \text{ kg}} CP/kg=Gh¢0.04 per kg\text{CP/kg} = \text{Gh¢}0.04 \text{ per kg}

Step 2: Calculate the selling price and revenue for the first half of the tomatoes.
Quantity for first half = 130 kg2=65 kg\frac{130 \text{ kg}}{2} = 65 \text{ kg}
Profit percentage for first half = 30% = 0.30

SP1 per kg=CP/kg×(1+0.30)\text{SP}_1 \text{ per kg} = \text{CP/kg} \times (1 + 0.30) SP1 per kg=Gh¢0.04×1.30\text{SP}_1 \text{ per kg} = \text{Gh¢}0.04 \times 1.30 SP1 per kg=Gh¢0.052 per kg\text{SP}_1 \text{ per kg} = \text{Gh¢}0.052 \text{ per kg}

Revenue from first half = 65 kg×Gh¢0.052 per kg=Gh¢3.3865 \text{ kg} \times \text{Gh¢}0.052 \text{ per kg} = \text{Gh¢}3.38

Step 3: Calculate the quantity for the second half and the amount thrown away.
Quantity remaining after first half = 130 kg−65 kg=65 kg130 \text{ kg} - 65 \text{ kg} = 65 \text{ kg}
Quantity thrown away = 5 kg
Quantity sold in second half = 65 kg−5 kg=60 kg65 \text{ kg} - 5 \text{ kg} = 60 \text{ kg}

Part a

Step 4: Calculate the new selling price per kg for the second half.

The selling price is reduced by 12% from the previous selling price (SP1\text{SP}_1).
Reduction percentage = 12% = 0.12

New SP per kg (SP2)=SP1 per kg×(1−0.12)\text{New SP per kg (SP}_2\text{)} = \text{SP}_1 \text{ per kg} \times (1 - 0.12) SP2 per kg=Gh¢0.052×0.88\text{SP}_2 \text{ per kg} = \text{Gh¢}0.052 \times 0.88 SP2 per kg=Gh¢0.04576 per kg\text{SP}_2 \text{ per kg} = \text{Gh¢}0.04576 \text{ per kg}

The new selling price per kg is Gh¢0.04576\boxed{\text{Gh¢}0.04576}.

Part b

17.80%17.80\%

Step 5: Calculate the revenue from the second half.

Revenue from second half = 60 kg×Gh¢0.04576 per kg=Gh¢2.745660 \text{ kg} \times \text{Gh¢}0.04576 \text{ per kg} = \text{Gh¢}2.7456

  1. Calculate the total revenue and total profit.

    Total Revenue = Revenue from first half + Revenue from second half
    Total Revenue = Gh¢3.38 + Gh¢2.7456 = Gh¢6.1256
    Total Cost = Gh¢5.20
    Total Profit = Total Revenue - Total Cost
    Total Profit = Gh¢6.1256 - Gh¢5.20 = Gh¢0.9256

  2. Calculate the percentage profit on the whole transaction.

    Percentage Profit=Total ProfitTotal Cost×100%\text{Percentage Profit} = \frac{\text{Total Profit}}{\text{Total Cost}} \times 100\% Percentage Profit=Gh¢0.9256Gh¢5.20×100%\text{Percentage Profit} = \frac{\text{Gh¢}0.9256}{\text{Gh¢}5.20} \times 100\% Percentage Profit≈0.177999×100%\text{Percentage Profit} \approx 0.177999 \times 100\% Percentage Profit≈17.80%\text{Percentage Profit} \approx 17.80\%

    The percentage profit on the whole transaction is approximately 17.80%\boxed{17.80\%}.

    9.

  3. Identify the given values.

    Cost Price (CP) = Gh¢1200
    Selling Price (SP) = Gh¢1680

  4. Calculate the profit.

    Profit=SP−CP\text{Profit} = SP - CP Profit=Gh¢1680−Gh¢1200\text{Profit} = \text{Gh¢}1680 - \text{Gh¢}1200 Profit=Gh¢480\text{Profit} = \text{Gh¢}480
  5. Calculate the profit percentage.

    Profit Percentage=ProfitCP×100%\text{Profit Percentage} = \frac{\text{Profit}}{CP} \times 100\% Profit Percentage=Gh¢480Gh¢1200×100%\text{Profit Percentage} = \frac{\text{Gh¢}480}{\text{Gh¢}1200} \times 100\% Profit Percentage=4801200×100%\text{Profit Percentage} = \frac{480}{1200} \times 100\% Profit Percentage=0.4×100%\text{Profit Percentage} = 0.4 \times 100\% Profit Percentage=40%\text{Profit Percentage} = 40\%

    His profit percent is 40%\boxed{40\%}.

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