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11 May, 00:22

Molly bought a pair of gloves and a skirt. The gloves cost £4. She sold teh gloves and the skirt for a total of £48. She made 100% profit on the cost of the gloves. 20% profit on the total cost. Work out the percentage profit on the cost of the skirt

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  1. 11 May, 03:49
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    A) Sale value = 48

    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

    B) Cost of the gloves = 4

    => Cost of the skirt = total cost - cost of the gloves

    => Cost of the skirt = 40 - 4 = 36

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

    Total value = 48

    Price of the gloves = cost of the gloves + margin

    margin of the gloves = 100% on the cost = cost

    Price of the gloves = cost of the gloves * 2

    Price of the gloves = 4 * 2 = 8

    => Price of the skirt = 48 - 8 = 40

    D) Profit on the skirt = price of the skirt / cost of the skirt = 40 / 36 = 1.1111

    Profit % = 11,11 %
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