IP1U8 Exercise Q4

IP1U8 Exercise Q4

TGM Original Questions

A shopkeeper bought \(3000\) greeting cards at \(\$750\).

  1. Calculate the cost price of each card.
  2. If the shopkeeper sold all the cards at \(95\) cents each. Calculate the
    1. profit he made on the sale of the cards.
    2. profit as percentage of the cost price.
    3. minimum number of cards he needs to sell in order not to make a loss.
  3. He found that \(112\) of the cards were damaged. If he intends to keep the same profit, how much would he need to sell the rest of the cards for? Give your answer correct to the nearest cent.

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Answer:(a) \(\$0.25\), (b)(i) \(\$2100\), (ii) \(280\%\), (iii) \(790\), (c) \(\$0.99\)

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