A stall buys scarves and sells them.Cost per scarf (GBP) Selling price (GBP) Scarves sold 80 100 100
What is the total profit in pounds?
Answer and explanation
Correct answer: A. GBP 2,000
- Step 1: Profit per scarf = 100 - 80 = 20 pounds. Step 2. Total profit = 20 x 100 = 2,000 pounds. Answer: GBP 2,000. Why not the others: GBP 10,000 is the total revenue, before the cost is subtracted; GBP 20 is the profit on a single scarf; GBP 8,000 is the total cost of the scarves.
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