... sells 5 posters for $42 each. He says that he has about $900 after selling the 5 posters.
Is Nathan’s estimate reasonable?
Maths - Question Nathan sells posters. He starts with $1,000 and buys 9 posters for $28 each. He?
- Posted:
- 3+ months ago by Funnehgold
- Topics:
- poster, nathan, math
Details:
Responses (1)
It is reasonable but the $900 he has at hand is not the profit.
At the start he had $1,000,
he buys 9 posters for $28 each, spending $252 (9x28),
this he now has $1,000-$252 = $748.
He then sells 5 posters at $42, earning $210
Which means he now has a total of $748 + $210 = $958
But in terms of profit, he makes a profit of $14 for each poster he buys at $28 and sells at $42.
If he has $1,000 and buys 35 posters for $28 each, then sells all the 35 posters at $42 he will have spent $980 (35 x 28) and then earn $1,470 (35 x 42) making a profit of $490 (1,470-980).