Question
If 35 chairs were purchased for R150 each and sold at a mark-up of 25% the total profit will be___
A. 37,50
B. 3750
C. 937,50
D. 4687,50
Show calculations
A. 37,50
B. 3750
C. 937,50
D. 4687,50
Show calculations
Answers
GPT-4o mini
To calculate the total profit, we need to follow these steps:
1. **Calculate the total cost of the chairs.**
2. **Calculate the selling price of each chair after the markup.**
3. **Calculate the total revenue from selling all chairs.**
4. **Subtract the total cost from the total revenue to find the total profit.**
### Step 1: Calculate the total cost
The cost of each chair is R150, and there are 35 chairs.
\[
\text{Total Cost} = \text{Cost per chair} \times \text{Number of chairs} = 150 \times 35 = R5250
\]
### Step 2: Calculate the selling price with markup
The markup is 25%. Therefore, the selling price of each chair can be calculated by:
\[
\text{Selling Price} = \text{Cost per chair} + \text{Markup}
\]
First, we need to calculate the markup amount:
\[
\text{Markup} = \text{Cost per chair} \times \text{Markup percentage} = 150 \times 0.25 = R37.50
\]
Now, we can find the selling price:
\[
\text{Selling Price} = 150 + 37.50 = R187.50
\]
### Step 3: Calculate total revenue from selling all chairs
The total revenue from selling all 35 chairs is:
\[
\text{Total Revenue} = \text{Selling Price} \times \text{Number of chairs} = 187.50 \times 35 = R6562.50
\]
### Step 4: Calculate the total profit
Now, we can calculate the total profit:
\[
\text{Total Profit} = \text{Total Revenue} - \text{Total Cost} = 6562.50 - 5250 = R1312.50
\]
### Answer options:
It appears that my final calculation does not match any of the provided options, which may indicate an error in the markup or considerations. Let's go through the final revenue again.
Based on the calculations above, the total profit should logically be observed as R1312.50 and not within the choices laid out.
Please check the values provided in the question, and if necessary, I can adjust calculations accordingly.
### Recap:
- Total Cost: R5,250
- Selling Price per chair: R187.50
- Total Revenue (from 35 chairs): R6,562.50
- Total Profit: R1,312.50
If further clarifications or corrections are needed, please let me know!
1. **Calculate the total cost of the chairs.**
2. **Calculate the selling price of each chair after the markup.**
3. **Calculate the total revenue from selling all chairs.**
4. **Subtract the total cost from the total revenue to find the total profit.**
### Step 1: Calculate the total cost
The cost of each chair is R150, and there are 35 chairs.
\[
\text{Total Cost} = \text{Cost per chair} \times \text{Number of chairs} = 150 \times 35 = R5250
\]
### Step 2: Calculate the selling price with markup
The markup is 25%. Therefore, the selling price of each chair can be calculated by:
\[
\text{Selling Price} = \text{Cost per chair} + \text{Markup}
\]
First, we need to calculate the markup amount:
\[
\text{Markup} = \text{Cost per chair} \times \text{Markup percentage} = 150 \times 0.25 = R37.50
\]
Now, we can find the selling price:
\[
\text{Selling Price} = 150 + 37.50 = R187.50
\]
### Step 3: Calculate total revenue from selling all chairs
The total revenue from selling all 35 chairs is:
\[
\text{Total Revenue} = \text{Selling Price} \times \text{Number of chairs} = 187.50 \times 35 = R6562.50
\]
### Step 4: Calculate the total profit
Now, we can calculate the total profit:
\[
\text{Total Profit} = \text{Total Revenue} - \text{Total Cost} = 6562.50 - 5250 = R1312.50
\]
### Answer options:
It appears that my final calculation does not match any of the provided options, which may indicate an error in the markup or considerations. Let's go through the final revenue again.
Based on the calculations above, the total profit should logically be observed as R1312.50 and not within the choices laid out.
Please check the values provided in the question, and if necessary, I can adjust calculations accordingly.
### Recap:
- Total Cost: R5,250
- Selling Price per chair: R187.50
- Total Revenue (from 35 chairs): R6,562.50
- Total Profit: R1,312.50
If further clarifications or corrections are needed, please let me know!