AQA · Mathematics · 8300
GCSE Maths: Money: Profit
Ratio & Proportion · AQA GCSE Maths (8300). Cards are generated from the Corbettmaths practice questions for Money: Profit (Corbettmaths Video 400), and every card links back to the exact page it came from. Practice tests generate fresh variations of these questions, so the numbers change every attempt. Source material © Corbettmaths — used with attribution.
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How is profit calculated from cost price and selling price?
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Profit = total selling price (revenue) − total cost price.
A watch bought for £189.99 is sold for £245. What is the profit?
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£55.01 (245 − 189.99).
100 pens bought for £18 are sold at 60p each. What is the profit?
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£42. Revenue 100 × £0.60 = £60; profit 60 − 18 = £42.
200 raffle tickets sell at £1.50 each; costs are £83. What is the profit?
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£217. Revenue 200 × 1.50 = £300; profit 300 − 83 = £217.
8 crates of 16 bottles cost £12 per crate; all sold at £2 each. Profit?
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£160. 128 bottles × £2 = £256 revenue; cost 8 × £12 = £96; profit £160.
Raffle tickets cost £2; prizes total £214; profit is £388. How many tickets were sold?
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301 tickets. Revenue = 388 + 214 = £602; 602 ÷ 2 = 301.
Working backwards from a known profit, how do you find total revenue?
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Add the total costs to the profit: revenue = profit + costs.
240 scarves cost £800; 5/8 sold at £9 each, the rest at £4 each. Profit?
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£910. 150 × £9 = £1350; 90 × £4 = £360; revenue £1710; profit 1710 − 800 = £910.
600 raffle tickets sell at £6; P(ticket wins) = 0.13; each prize costs £20. Money raised?
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£2040. Revenue £3600; expected prizes 0.13 × 600 = 78, costing £1560; 3600 − 1560 = £2040.
260 ponchos sold, 70% adult (£8.70 profit each), rest child (half that). Total profit?
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£1922.70. 182 × £8.70 = £1583.40; 78 × £4.35 = £339.30; total £1922.70.
90 lamps cost £17.50 each; 62 sold at £45, the rest at 20% off. Profit?
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£2223. Cost £1575; 62 × £45 = £2790; 28 × £36 = £1008; revenue £3798; profit £2223.
140 calendars cost £5.50 each; 68 sold at £15, more at £10.50; profit £880. How many left?
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12 calendars. Revenue = 880 + 770 = £1650; 1650 − 1020 = £630; 630 ÷ 10.50 = 60 more sold; 140 − 128 = 12.
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