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Alice buys a picture for £180 and later sells it for £216 - OCR - GCSE Maths - Question 11 - 2019 - Paper 1
Question 11
Alice buys a picture for £180 and later sells it for £216. Find the percentage profit that she made. (b) Rashid wants to increase £345 by 17% in one step by using ... show full transcript
Worked Solution & Example Answer:Alice buys a picture for £180 and later sells it for £216 - OCR - GCSE Maths - Question 11 - 2019 - Paper 1
Step 1
Find the percentage profit that she made.
Answer
To find the percentage profit, we can use the formula:
ext{Percentage Profit} = rac{ ext{Profit}}{ ext{Cost Price}} imes 100-
Calculate the profit:
- Profit = Selling Price - Cost Price = £216 - £180 = £36.
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Substitute the profit and cost price into the formula:
- Percentage Profit = ( \frac{36}{180} \times 100 )
- Percentage Profit = ( 20% )
Thus, Alice made a percentage profit of 20%.
Step 2
Write the decimal multiplier to complete Rashid's calculation.
Answer
To find the decimal multiplier to increase £345 by 17%, we first convert 17% into a decimal. This is done by dividing 17 by 100, which gives us:
To find the decimal multiplier:
- Decimal Multiplier = 1 + 0.17 = 1.17.
Therefore, the decimal multiplier to complete Rashid's calculation is 1.17.