Question

A deluxe bakery sells a cookie for $4.01, a brownie for $4.1 and a cake for $30.54. On Wednesday they sold 13 cookies, 5 brownies and 3 cakes. The cost in ingredients for each cookie is $1.79, for,each brownie is $0.63 and for each cake is $6. 71. How much profit did they make on Wednesday?

Answer 1

`Profit = \$117.7`

Explanation:

Given

Selling Price of:

`Cookies = \$4.01`

`Brownie = \$4.1`

`Cake = \$30.54`

Quantities Sold:

`Cookies = 13`

`Brownies = 5`

`Cake = 3`

Cost Price:

`Cookies = \$1.79`

`Brownie = \$0.63`

`Cake = \$6.71`

Required

Determine the profit

First, we need to calculate the total cost price:

Total Cost Price = Item Cost Price * Quantity ---- For each

i.e.

`Total\ Cost\ Price = \$1.79 * 13 + \$0.63 * 5 +\$6.71 * 3`

`Total\ Cost\ Price = \$23.27 + \$3.15 +\$20.13`

`Total\ Cost\ Price = \$46.55`

Then, the total selling price

Total Selling Price = Item Selling Price * Quantity ---- For each

`Total\ Selling\ Price = \$4.01 * 13 + \$4.1 * 5 + \$30.54 * 3`

`Total\ Selling\ Price = \$52.13 + \$20.5+ \$91.62`

`Total\ Selling\ Price = \$164.25`

Profit is calculated as thus:

`Profit = Total\ Selling\ Price - Total\ Cost\ Price`

`Profit = \$164.25 - \$46.55`

`Profit = \$117.7`