A stall buys scarves and sells them.Cost per scarf (GBP) Selling price (GBP) Scarves sold 40 52 50
What is the total profit in pounds?
Answer and explanation
Correct answer: B. GBP 600
- Step 1: Profit per scarf = 52 - 40 = 12 pounds. Step 2. Total profit = 12 x 50 = 600 pounds. Answer: GBP 600. Why not the others: GBP 2,600 is the total revenue, before the cost is subtracted; GBP 12 is the profit on a single scarf; GBP 2,000 is the total cost of the scarves.
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