Question

Molly bought a pair of gloves and a skirt. The gloves cost £4. She sold the gloves and skirt for a total of £48. She made 100% profit on the cost of the gloves, 20% profit on the total cost. Work out her percentage profit on the cost of the skirt. Give your answer to 1 decimal place.

Answer 1

Profit % = 111.1 %

Explanation:

Cost of glove = £4

Sales price of glove and skirt = £48

100% profits on the cost of the glove

20% profit on the total cost

Profit on the total cost = 20% = 0.20

Total cost + 0.20 total cost = Sale value

1.20 * total cost = 48

Total cost = 48 / 1.20

Total cost = 40

Cost of the skirt = Total cost - cost of the gloves

Cost of the skirt = 40 - 4

= 36

Price of the skirt = total value - price of the gloves

Total value = £48

100% of £4 = 100/100 * £4

= £4

Profits + cost of glove = $8

Amount remaining = £48 - £8

= £40

Profit percentage on the skirt = price of the skirt / cost of the skirt

= 40 / 36 * 100

= 1.1111 * 100

Profit % = 111.1 %