Margaret makes and sells furniture. (a) It costs Margaret €75 to make a chair. She sells it for €110. Work out the profit she makes on the chair. (b) It costs Margaret €120 to make a bench. She sells it for a profit of €45. Work out how much Margaret sells the bench for. (c) It costs Margaret €3n to make a stool, where n ∈ ℕ. She sells the stool for €5n. Work out the profit she makes on the stool, in terms of n. (d) It costs Margaret €320 to make a table. She sells it for a profit of €80. Write Margaret’s profit for the table as a percentage of its cost to her.

Junior Cycle Mathematics Bills, Taxes & Wages: Margaret makes and sells furnitu

Margaret makes and sells furniture - Junior Cycle Mathematics - Question 9 - 2022

Question 9

Margaret makes and sells furniture. (a) It costs Margaret €75 to make a chair. She sells it for €110. Work out the profit she makes on the chair. (b) It costs Marg... show full transcript

Worked Solution & Example Answer:Margaret makes and sells furniture - Junior Cycle Mathematics - Question 9 - 2022

Step 1

It costs Margaret €75 to make a chair. She sells it for €110. Work out the profit she makes on the chair.

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Answer

To calculate the profit made on the chair, we subtract the cost of making the chair from the selling price.

Profit = Selling Price - Cost Price
Profit = €110 - €75 = €35.

Step 2

It costs Margaret €120 to make a bench. She sells it for a profit of €45. Work out how much Margaret sells the bench for.

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Answer

To find the selling price of the bench, we add the profit to the cost of making the bench.

Selling Price = Cost Price + Profit
Selling Price = €120 + €45 = €165.

Step 3

It costs Margaret €3n to make a stool, where n ∈ ℕ. She sells the stool for €5n. Work out the profit she makes on the stool, in terms of n.

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Answer

The profit can be calculated by subtracting the cost from the selling price.
Profit = Selling Price - Cost Price
Profit = €5n - €3n = €2n.

Step 4

It costs Margaret €320 to make a table. She sells it for a profit of €80. Write Margaret’s profit for the table as a percentage of its cost to her.

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Answer

To find the profit as a percentage of the cost, we use the formula:

Percentage = (Profit / Cost Price) × 100%
Percentage = (€80 / €320) × 100% = 25%.

Margaret makes and sells furniture - Junior Cycle Mathematics - Question 9 - 2022

Worked Solution & Example Answer:Margaret makes and sells furniture - Junior Cycle Mathematics - Question 9 - 2022

It costs Margaret €75 to make a chair. She sells it for €110. Work out the profit she makes on the chair.

It costs Margaret €120 to make a bench. She sells it for a profit of €45. Work out how much Margaret sells the bench for.

It costs Margaret €3n to make a stool, where n ∈ ℕ. She sells the stool for €5n. Work out the profit she makes on the stool, in terms of n.

It costs Margaret €320 to make a table. She sells it for a profit of €80. Write Margaret’s profit for the table as a percentage of its cost to her.

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