Answer to Question #126572 in Financial Math for xgfzsdg

Question

Ryan buys some jumpers to sell on a stall.
He spends £160 buying 60 jumpers.
He sells 80% of the jumpers for £12 each.
He then puts the rest of the jumpers on a Buy one get one half price offer.
He manages to sell half the remaining jumpers using this offer.
How much profit does Ryan make?

Answer 1

$\text{1) The total cost of buying jumpers £160}$

$\text{2) \, Sold} {\, 80}$ % $\text{of jumpers for £ 12 each: 48 *£ 12 = £576, where 80 \% of jumpers is 60 * 0.8 = 48}$

$\text{3) The remainder of jumpers: 60-48= 12}$

$\text{4) Sells half the remaining half price: 6 * £6 = £36}$

$\text{5) Total sales revenue: £576+ £36 = £612}$

$\text{6) Total sales profit: £612 -£160 = £452}$