ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
CAHSEE Math Videos 210 videos
Statistics, Data, and Probability I: Drill Set 1, Problem 1. What is the mean yearly salary?
Statistics, Data, and Probability I: Drill Set 1, Problem 2. What is the median length of these writing utensils?
CAHSEE Math Statistics, Data, and Probability I: Drill Set 1, Problem 3. The mode of the number of days in each month for a single non-leap year is...
CAHSEE Math 3.5 Number Sense 204 Views
Share It!
Description:
Number Sense: Drill Set 3, Problem 5. How much in total sales would Bert need to earn a 12% profit?
Transcript
- 00:03
Here's a shmoopy question for you...
- 00:05
Bert is the owner of an inconvenience store called One-Three.
- 00:10
It's just like a convenience store, only the shelves are too high for anyone to reach...
- 00:14
...and they're only open for three hours, one day a week.
- 00:17
Bert stocks his shelves with items bought at wholesale prices,
Full Transcript
- 00:21
and then charges his... very few customers... a premium above wholesale to turn a big, fat profit.
- 00:27
If Bert purchased $15,000 in merchandise at wholesale prices,
- 00:32
how much would he need to make in total sales to earn a 12% profit?
- 00:37
Here are the potential answers...
- 00:42
OK, what are we being asked here?
- 00:45
This is a little tricky... we don't just multiply 15,000 by 0.12 and be done with it.
- 00:50
Rather, we want to know his take OVER AND ABOVE the cost of the merchandise,
- 00:54
so we multiply 15,000 by 1.12 to get 16,800.
- 01:02
If the owner sells his $15,000 in merchandise for $16,800, he has made a 12% profit.
- 01:10
There you go.
- 01:10
So our answer is B. Case closed. Just like Bert's store.
Related Videos
CAHSEE Math: Algebra and Functions Drill 5, Problem 3. Solve the equation.
SAT Math 10.3 Geometry and Measurement. What is the ratio of birds to dogs?
SAT Math 2.1 Statistics and Probability. Which two items have the highest protein to fat ratio?
SAT Math 2.2 Statistics and Probability. What percent of her recommended daily intake of 2000 calories did she consume?
