a shop bought 100 toy cars for $180. 7 were broken. The shop sold the rest for 3 at $10. How much profit did the shop make
a shop bought 100 toy cars for $180. 7 were broken. The shop sold the rest for 3 at $10. How much profit did the shop make
Answer:
The shop made a profit of $130.
Step-by-step explanation:
To calculate the shop's profit, we need to determine the total cost and total revenue.
Total Cost:
The shop purchased 100 toy cars for $180, making the cost per car $180/100 = $1.80.
Total Revenue:
Out of the 100 cars, 7 were broken, leaving 93 cars available for sale.
The shop sold these cars in sets of 3 for $10 per set, resulting in 93/3 = 31 sets sold.
Since each set consists of 3 cars sold for $10, the revenue per set is $10.
Hence, the total revenue from selling the cars is 31 sets x $10/set = $310.
Profit Calculation:
Profit is calculated by subtracting the total cost from the total revenue.
Total cost = Cost per car x Number of cars = $1.80 x 100 = $180.
Profit = Total revenue - Total cost = $310 - $180 = $130.
Therefore, the shop made a profit of $130.
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