Chandu buys a necklace for £120
She sells the necklace for £135 - Edexcel - GCSE Maths - Question 8 - 2022 - Paper 2
Question 8
Chandu buys a necklace for £120
She sells the necklace for £135.
Work out her percentage profit.
Worked Solution & Example Answer:Chandu buys a necklace for £120
She sells the necklace for £135 - Edexcel - GCSE Maths - Question 8 - 2022 - Paper 2
Calculate the Profit
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To find the profit, subtract the cost price from the selling price:
Profit = Selling Price - Cost Price
Using the given values:
Profit = £135 - £120 = £15
Calculate the Percentage Profit
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The percentage profit can be calculated using the formula:
[ \text{Percentage Profit} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100 ]
Substituting the values:
[ \text{Percentage Profit} = \left( \frac{£15}{£120} \right) \times 100 ]
[ = 0.125 \times 100 = 12.5% ]
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