Mr. Jack bought 150 T-shirts for $1920 from a factory. What is the amount Mr. Jack received after selling all the T-shirts?
Answers
Final answer:
We need to know about profit and loss in order to solve the problem. The cost of one shirt is $12.80, the amount of money Mrs. Jackson received after selling all t-shirts is $2,998.50, the total profit made is $1,078.50 and the profit percentage is 56.17%.
Explanation:
We know that Mrs. Jackson bought 150 t-shirts for $1920, we need to first find the cost of one t-shirt, we can do that by dividing the total cost by the number of t-shirts.
Cost of one = 1920 / 150 = $12.80
Next we need to find the total selling price of all the t-shirts given that each t-shirt is sold at $19.99
Total selling price = 150 × $19.99 = $2,998.50
The total profit made by Mrs. Jackson can be calculated by subtracting the cost price from the selling price.
Profit = $2,998.50 - $1,920 = $1,078.50
The profit percentage with respect to the cost price can be calculated as
Profit percentage = ($1,078.50 / $1,920) × 100 = 56.17%
Therefore, the cost of one shirt is $12.80, the amount of money Mrs. Jackson received after selling all t-shirts is $2,998.50, the total profit made is $1,078.50 and the profit percentage is 56.17%.
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The question above was incomplete. Refer below for the entire question.
Mrs. Jackson bought 150 T-shirt for 1920 from a factory.
i) calculate the cost of one T-shirt
The T-shirt are sold at $19.99 each.
Calculate
ii) the amount of money Mrs. Jackson received after selling All of T-shirt.
iii) the TOTAL profit made
iv) the profit made as a percentage of the cost price, giving your answer correct to the nearest whole number.
Final answer:
The amount Mr. Jack received after selling all the T-shirts is $1920.
Explanation:
In order to find out the amount Mr. Jack received after selling all the T-shirts, we need to determine the selling price of each T-shirt. To do this, we divide the total amount Mr. Jack spent on the T-shirts ($1920) by the number of T-shirts he bought (150). The selling price per T-shirt is $12.80.
Now, to find the amount Mr. Jack received after selling all the T-shirts, we multiply the selling price per T-shirt ($12.80) by the number of T-shirts he bought (150). The amount Mr. Jack received after selling all the T-shirts is $1920.
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