Final answer:
Nik's percentage profit from selling the pencils is 130.8%, calculated by finding the difference between the sales revenue (£10.80) and the cost (£4.68), then dividing the profit (£6.12) by the cost and multiplying by 100.
Step-by-step explanation:
The question is asking us to calculate Nik's percentage profit from selling pencils. Nik bought 72 pencils for a total cost of £4.68 and sells all 72 pencils for 15 pence each. To determine the profit, we need to calculate both the total sales revenue and compare it to the cost.
First, calculate the total sales revenue by multiplying the number of pencils sold by the price per pencil:
72 pencils * 15 pence per pencil = 1080 pence
Next, we convert the sales revenue to pounds:
1080 pence = £10.80
Now, calculate the profit by subtracting the cost from the sales revenue:
Profit = Sales Revenue - Cost
Profit = £10.80 - £4.68
Profit = £6.12
To find the percentage profit, divide the profit by the cost and then multiply by 100:
Percentage Profit = (Profit / Cost) * 100
Percentage Profit = (£6.12 / £4.68) * 100
Percentage Profit = 1.3077 * 100
Percentage Profit = 130.77%
Finally, rounding to one decimal place gives us:
Percentage Profit = 130.8%
Therefore, Nik's percentage profit from selling the pencils is 130.8% correct to one decimal place.