This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
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Here are the calculations for the profit and loss, and the subsequent questions. 5. Calculate the profit or loss for each item. To calculate profit or loss, use the formula: Profit/Loss = Selling Price - Cost Price. Chips: Profit = N\ 25.00 - N\ 18.00 = N\ 7.00 Juice: Profit = N\ 28.00 - N\ 20.00 = N\ 8.00 Biscuits: Profit = N\ 35.00 - N\ 30.00 = N\ 5.00 Apples: Profit = N\ 15.00 - N\ 12.00 = N\ 3.00 Here is the completed table: | Item | Cost price | Selling price | Profit / loss | | :-------- | :--------- | :------------ | :------------ | | Chips | N 18.00 | N 25.00 | N 7.00 Profit | | Juice | N 20.00 | N 28.00 | N 8.00 Profit | | Biscuits | N 30.00 | N 35.00 | N 5.00 Profit | | Apples | N 12.00 | N 15.00 | N 3.00 Profit | Which item gives the highest profit? Comparing the profits: Chips: N 7.00 Juice: N 8.00 Biscuits: N 5.00 Apples: N 3.00 The highest profit is N 8.00, which is from Juice. The tuck shop bought 20 packets of chips at N 18.00 each and sold all of them at N 25.00 each. I. Calculate the total cost price. Step 1: Multiply the number of packets by the cost per packet. Total cost price = 20 packets × N\ 18.00/packet Total cost price = N\ 360.00 The total cost price is N\ 360.00. II. Calculate the total selling price. Step 1: Multiply the number of packets by the selling price per packet. Total selling price = 20 packets × N\ 25.00/packet Total selling price = N\ 500.00 The total selling price is N\ 500.00. III. Calculate the total profit. Step 1: Subtract the total cost price from the total selling price. Total profit = Total selling price - Total cost price Total profit = N\ 500.00 - N\ 360.00 Total profit = N\ 140.00 The total profit is N\ 140.00$. 3 done, 2 left today. You're making progress.