Video: Pack 3 • Paper 3 • Question 6

Pack 3 • Paper 3 • Question 6

01:34

Video Transcript

Robin buys 14 packets of gummy bears for six pounds 20. He sells 12 of the packets for 50p each, but fails to sell the last two packets. Calculate his percentage loss. Give your answer accurate to one decimal place.

Let’s review the information in the question. First of all, we’re told that Robin buys the 14 packets for a total of six pounds 20. We’re then told that he sells 12 of the packets for 50p each, which means he makes six pounds back.

To calculate a percentage loss, we first find the difference between the two amounts. We then divide it by the original amount. This will give a decimal. To convert it to a percentage, we need to multiply by 100. The difference between the amounts in this question is six pounds 20 minus six pounds and the original amount is six pounds 20.

You need to be really careful here a common mistake is to divide by the new amount or sometimes just to divide by whichever amount is larger. You must make sure you’re dividing by the original amount.

So we have 0.20 over 6.20 multiplied by 100. And as we have a calculator, we can evaluate this: it’s 3.2258 percent. This question has asked us to give our answer accurate to one decimal place. So rounding this value, we have that Robin’s percentage loss is 3.2 percent.

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