Answer:
<u>3</u><u>0</u><u>.</u><u>4</u><u>%</u><u> </u>
1000 at £1.10
1000 x 1.10 = £1100
35% of 1000 is given away
1000 - 35% = 1000 - 350 = 650 left
35% of £1100 = £385, subtract to get £715 pounds worth of pins left
650 are left, with 385 pounds lost
60% of 650 = 390 pins sold at £3 each
40% of 650 = 260 sold at £5 for 2
3 x 390 = £1170 made from the first lot
260/2 = 130 x 5 = £650 made from the second lot
£1170 + £650 = £1820 from sales
Sales - cost to make - losses (giveaways) = profit value
1820 - 1100 - 385 = 335 pounds of profit
To find the gross profit margin, we take the profit, and find what percentage of the production cost it is.
335 is about 30.45% of 1100
30.45%, which is 30.4% to 1 decimal place.
The user is not responsible for any errors and all care should be taken to validate answer by self before submission.
