Question

Lois makes customised tee-shirts. She advertises and receives orders through her own website. She buys blank tee-shirts for $1 each and $1 of fabric paint is used to produce the bespoke designs. She pays herself $6 per hour for her time to create the designs and package the teeshirts. In addition she makes a profit of 20% of the selling price. For how much will she sell a tee-shirt, if the artwork and packaging takes one and a half hours to complete?

Answer 1

Lois will sell her tee-shirt for $13.20

The percentage profit = $\frac{profit}{cost price}$ × 100

Profit = Selling price - cost price

Cost price is the total amount expended in making the tee-shirts

cost price includes cost of buying blank shirt , cost of fabric paint and amount Lois pay herself

cost of buying blank shirt = $1

cost of fabric paint = $1

amount Lois pay herself = $1\frac{1}{2}$ x $6

$\frac{3}{2}$ x $6 = $9

Total cost price = $1 + $1 + $9 = $11

0.2 = $\frac{profit}{11}$

profit = 11 x 0.2 = $2.2

$2.20 = selling price - $11

selling price = $11 + 2.20 = $13.20

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