Question

A health food store buys nuts in 10-kilogram containers and repackages the nuts for resale. The store packages the nuts in 100-gram bags, costing $0.07 each, and sells them for $2.59 per bag. Find the profit on a 10-kilogram container of nuts costing $55.

Answer 1

The profit on a 10-kilogram container of nuts costing $55 is 197$

Step-by-step explanation:

We are given the total expenditure i.e the total cost price of health food store = cost price of 10kg containers of nuts and the cost price of 100gm bags used to store these 10kg nut containers.

since 10kg = 10,000gm

so no. of bags required = 10,000 divided by 100 = 100 bags

So total cost price of bags = $0.07 x 100 = 7$

and given total cost price of 10kg nuts = $55

Total cost price = $55 + $7 = $62

We are given the selling price = $2.59 for each bag,

since the shop sells 100 bags so,

Total selling price = 2.59 x 100 = $259

The profit earned is given by

total selling price - total cost price

= $259 - $62

= 197$

The profit on a 10-kilogram container of nuts costing $55 is 197$