Deductive Reasoning

In a month, Sarah buys 8 vintage vinyl records. Her favorite is the Beatles' "Sgt. Pepper's Lonely Hearts Club Band." Each record costs $30, and she spends an additional $10 each on cleaning and restoring them. Sarah then sells the records for $75 each. She has no additional expenses. How much profit does Sarah make (per month)?

• $280

• $320

• $380

• $440

• $480

Answer explanation

Explanation: To calculate Sarah's profit, we need to subtract her expenses from her revenue. The cost of buying the records is $30 per record, and she buys 8 records, so her total purchasing cost is 30 8 = $240. Additionally, she spends $10 per record on cleaning and restoration, which amounts to 10 8 = $80. Therefore, her total expenses are 240 + 80 = $320.

Sarah sells each record for $75, and since she has 8 records, her total revenue is 75 * 8 = $600.

To calculate her profit, we subtract her total expenses from her total revenue: 600 - 320 = $280.

Therefore, Sarah makes a profit of $280 per month.

In a month, Michael buys 12 vintage comic books. His favorite is a first edition of Spider-Man. Each comic book costs $50, and he spends an additional $20 each on protective sleeves for the comics. Michael then sells the comic books for $150 each. He has no additional expenses. How much profit does Michael make (per month)?

• $840

• $960

• $1,080

• $1,200

• $1,320

Answer explanation

Explanation: To calculate Michael's profit, we need to subtract his expenses from his revenue. The cost of buying the comic books is $50 per comic book, and he buys 12 comic books, so his total purchasing cost is 50 12 = $600. Additionally, he spends $20 per comic book on protective sleeves, which amounts to 20 12 = $240. Therefore, his total expenses are 600 + 240 = $840.

Michael sells each comic book for $150, and since he has 12 comic books, his total revenue is 150 * 12 = $1,800.

To calculate his profit, we subtract his total expenses from his total revenue: 1,800 - 840 = $960.

Therefore, Michael makes a profit of $960 per month.

In a month, Emily buys 10 handmade jewelry sets. Each jewelry set costs $60, and she spends an additional $15 each on gift boxes for the sets. Emily then sells the jewelry sets for $150 each. She has no additional expenses. How much profit does Emily make (per month)?

• $750

• $900

• $1,000

• $1,250

• $1,500

Answer explanation

Explanation: To calculate Emily's profit, we need to subtract her expenses from her revenue. The cost of buying the jewelry sets is $60 per set, and she buys 10 sets, so her total purchasing cost is 60 x 10 = $600. Additionally, she spends $15 per set on gift boxes, which amounts to 15 x 10 = $150. Therefore, her total expenses are 600 + 150 = $750.

Emily sells each jewelry set for $150, and since she has 10 sets, her total revenue is 150 x 10 = $1,500.

To calculate her profit, we subtract her total expenses from her total revenue: 1,500 - 750 = $750.

Therefore, Emily makes a profit of $750 per month.

In a month, Sarah buys 8 handcrafted wooden sculptures. Her favorite is a sculpture carved from oak wood. Each sculpture costs $120, and she spends an additional $25 each on display stands for the sculptures. Sarah then sells the sculptures for $300 each. She has no additional expenses. How much profit does Sarah make (per month)?

• $1,250

• $1,520

• $1,920

• $2,080

• $2,320

Answer explanation

Explanation: To calculate Sarah's profit, we need to subtract her expenses from her revenue. The cost of buying the wooden sculptures is $120 per sculpture, and she buys 8 sculptures, so her total purchasing cost is 120 x 8 = $960. Additionally, she spends $25 per sculpture on display stands, which amounts to 25 x 8 = $200. Therefore, her total expenses are 960 + 200 = $1,160.

Sarah sells each sculpture for $300, and since she has 8 sculptures, her total revenue is 300 x 8 = $2,400.

To calculate her profit, we subtract her total expenses from her total revenue: 2,400 - 1,160 = $1,240.

Therefore, Sarah makes a profit of $1,240 per month.

In a month, James buys 15 original paintings from local artists. His favorite is a landscape painting. Each painting costs $200, and he spends an additional $50 each on frames for the paintings. James then sells the paintings for $500 each. He has no additional expenses. How much profit does James make (per month)?

• $2,500

• $3,750

• $5,000

• $7,500

• $8,750

Answer explanation

Explanation: To calculate James' profit, we need to subtract his expenses from his revenue. The cost of buying the paintings is $200 per painting, and he buys 15 paintings, so his total purchasing cost is 200 x 15 = $3,000. Additionally, he spends $50 per painting on frames, which amounts to 50 x 15 = $750. Therefore, his total expenses are 3,000 + 750 = $3,750.

James sells each painting for $500, and since he has 15 paintings, his total revenue is 500 x 15 = $7,500.

To calculate his profit, we subtract his total expenses from his total revenue: 7,500 - 3,750 = $3,750.

Therefore, James makes a profit of $3,750 per month.

In a month, Ryan buys 10 skateboards for his skateboard shop. His favorite is a local kiwi custom-designed skateboard. Each skateboard costs $80, and he spends an additional $20 each on grip tape for the skateboards. Ryan then sells the skateboards for $150 each. He has no additional expenses. How much profit does Ryan make (per month)?

• $500

• $600

• $700

• $800

• $900

Answer explanation

Explanation: To calculate Ryan's profit, we need to subtract his expenses from his revenue. The cost of buying the skateboards is $80 per skateboard, and he buys 10 skateboards, so his total purchasing cost is 80 x 10 = $800. Additionally, he spends $20 per skateboard on grip tape, which amounts to 20 x 10 = $200. Therefore, his total expenses are 800 + 200 = $1,000.

Ryan sells each skateboard for $150, and since he has 10 skateboards, his total revenue is 150 x 10 = $1,500.

To calculate his profit, we subtract his total expenses from his total revenue: 1,500 - 1,000 = $500.

Therefore, Ryan makes a profit of $500 per month.

In a month, Emily buys 5 surfboards for her surf shop. Her favorite is a high-performance shortboard. Each surfboard costs $600, and she spends an additional $100 each on surfboard fins. Emily then sells the surfboards for $1,200 each. She has no additional expenses. How much profit does Emily make (per month)?

• $2,000

• $2,500

• $3,000

• $3,500

• $4,000

Answer explanation

Explanation: To calculate Emily's profit, we need to subtract her expenses from her revenue. The cost of buying the surfboards is $600 per surfboard, and she buys 5 surfboards, so her total purchasing cost is 600 x 5 = $3,000. Additionally, she spends $100 per surfboard on surfboard fins, which amounts to 100 x 5 = $500. Therefore, her total expenses are 3,000 + 500 = $3,500.

Emily sells each surfboard for $1,200, and since she has 5 surfboards, her total revenue is 1,200 x 5 = $6,000.

To calculate her profit, we subtract her total expenses from her total revenue: 6,000 - 3,500 = $2,500.

Therefore, Emily makes a profit of $2,500 per month.

In a month, Ethan buys 8 snowboards for his snowboard shop. His favorite is a freestyle snowboard. Each snowboard costs $400, and he spends an additional $80 each on snowboard bindings. Ethan then sells the snowboards for $800 each. He has no additional expenses. How much profit does Ethan make (per month)?

• $1,850

• $2,150

• $2,560

• $2,750

• $3,000

Answer explanation

Explanation: To calculate Ethan's profit, we need to subtract his expenses from his revenue. The cost of buying the snowboards is $400 per snowboard, and he buys 8 snowboards, so his total purchasing cost is 400 x 8 = $3,200. Additionally, he spends $80 per snowboard on bindings, which amounts to 80 x 8 = $640. Therefore, his total expenses are 3,200 + 640 = $3,840.

Ethan sells each snowboard for $800, and since he has 8 snowboards, his total revenue is 800 x 8 = $6,400.

To calculate his profit, we subtract his total expenses from his total revenue: 6,400 - 3,840 = $2,560.

Therefore, Ethan makes a profit of $2,560 per month. The correct answer is C.

Jasmine and Liam own a bakery and their best-selling item is a chocolate chip cookie. They usually sell 200 cookies a day at a price of $2 each. They want to run a promotion to increase sales by 10% and reduce the price by 15%. Will they:

• Stay the same.

• Increase sales by $15

• Decrease sales by $15

• Increase sales by $26

• Decrease sales by $26

Answer explanation

Explanation: To calculate the impact of the promotion, we first need to determine the new sales and revenue. A 10% increase in sales would be 200 x 10/100 = 20 additional cookies sold. So the new sales would be 200 + 20 = 220 cookies. The price reduction of 15% would make each cookie cost $2 - ($2 x 15/100) = $1.70.

To calculate the new revenue, we multiply the new sales by the new price: 220 x $1.70 = $374.

To determine the change in sales, we subtract the original revenue from the new revenue: $374 - (200 x $2) = $374 - $400 = -$26.

Decrease in sales by $26, the answer is E.

Sarah and Alex own a toy store, and their best-selling item is a remote-controlled car. They typically sell 150 cars per month at a price of $50 each. They want to increase sales by 25% and reduce the price by 10%. Will they:

• Stay the same

• Increase sales by $875

• Decrease sales by $875

• Increase sales by $915

• Decrease sales by $915

Answer explanation

Explanation: A 25% increase in sales would be 150 x 25/100 = 37.5 additional cars sold. However, since we cannot sell fractional cars, we round it down to the nearest whole number, which is 37. The new sales would be 150 + 37 = 187 cars.

The price reduction of 10% would make each car cost $50 - ($50 x 10/100) = $45.

To calculate the new revenue, we multiply the new sales by the new price: 187 x $45 = $8,415.

To determine the change in sales, we subtract the original revenue from the new revenue: $8,415 - (150 x $50) = $8,415 - $7,500 = $915.