Question

Brad sells ice cream and soft drinks at outdoor festivals. He buys soft drinks for 50 cents per can and ice cream bars for $75 per hundred. He marks up all items by 100 percent selling the drinks for $1.00 and ice cream bars for $1.50. One day he sold 100 cans of soft drinks and 90 ice cream bars. His expenses totaled $31.50. What was his net profit?

Answer 1

Answer:

Net profit=$86

Explanation:

This can be expressed as;

Net profit=Earnings-Total buying price-Expenses

where;

1. Earnings=Total earnings from Soft drinks sale+Total earnings from ice cream sale

Total earnings from soft drinks sale=(100×1)=$100

Total earnings from ice cream sale=(90×1.5)=$135

Earnings=100+135=$235

2. Total buying price=Total expense from buying of Soft drinks+Total expense from buying of ice cream

Total expense from buying of Soft drinks=(0.5×100)=50

Total expense from buying of ice cream=(75/100)×90=67.50

Total buying price=(50+67.50)=$117.50

3. Expenses=$31.50

Replacing;

Net profit=235-117.50-31.50=$86

Net profit=$86