Aadhya buys 25 pieces of artwork for a total cost of £125000.She sells them all for £8250 each.Calculate her percentage profit.
Question
Aadhya buys 25 pieces of artwork for a total cost of £125000. She sells them all for £8250 each. Calculate her percentage profit.
Solution
Step 1: Calculate the total selling price Aadhya sells each piece of artwork for £8250 and she has 25 pieces. So, the total selling price is 25 * £8250 = £206250.
Step 2: Calculate the profit The profit is the total selling price minus the total cost price. So, the profit is £206250 - £125000 = £81250.
Step 3: Calculate the percentage profit The percentage profit is the profit divided by the cost price, then multiplied by 100. So, the percentage profit is (£81250 / £125000) * 100 = 65%.
So, Aadhya made a 65% profit on the sale of the artwork.
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