Question

At the end of the day, a local bakery sold 83 cakes and had to throw out 7 cakes due to baking errors. Each cake cost the bakery $6.25 to make. The bakery, in turn, sold each cake for $12.75. What was the total profit earned by the bakery today?

Answer 1

The total profit earned by the bakery today was of $495.75.

Explanation:

Spending:

83 + 7 = 90 cakes made, each costing 6.25. So

`S = 90*6.25 = 562.5`

Earnings:

83 cakes sold by $12.75, so:

`E = 83*12.75 = 1058.25`

Profit:

Earnings subtracted by spending, so:

`P = E - S = 1058.25 - 562.5 = 495.75`

The total profit earned by the bakery today was of $495.75.