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Sean pays £10 for 24 chocolate bars - Edexcel - GCSE Maths - Question 6 - 2020 - Paper 1

Question 6

Sean pays £10 for 24 chocolate bars. He sells all 24 chocolate bars for 50p each. Work out Sean’s percentage profit.

Worked Solution & Example Answer:Sean pays £10 for 24 chocolate bars - Edexcel - GCSE Maths - Question 6 - 2020 - Paper 1

Step 1

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Answer

The selling price of one chocolate bar is 50p. Therefore, the total selling price for 24 chocolate bars is:

$24 imes 0.50 = £12$

Step 2

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Answer

The cost price for 24 chocolate bars is given as £10.

Step 3

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Answer

To find the percentage profit, we first need to calculate the profit:

$\text{Profit} = \text{Selling Price} - \text{Cost Price} = £12 - £10 = £2$

Next, we calculate the percentage profit using the formula:

$\text{Percentage Profit} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100$

Substituting the values we get:

$\text{Percentage Profit} = \left( \frac{£2}{£10} \right) \times 100 = 20\%$

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