YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

Module 5 – Money – Profit and Loss, Budget

Profit

1. Salesman gained a profit of $4 925 in total. To find the profit from each
car we divide his net profit by the number of cars he sold:
$4 925 ÷ 5 = $985
This means that the salesman made $985 profit from each car sale.
To find what percentage each car was marked up by we divide the profit
from each car by the original price the salesman bought them for:
$985 ÷ $9 850 = 0.1 = 10%

2. The total profits earned was $330. To find the profit from each console
we divide this by the number of consoles that were sold:
$330 ÷ 3 = $110
If 25% profit was made overall, it means that each console was sold
with 25% extra added onto the original price; this means that the
individual profit from each console is equal to 25% of the original price.
To find the original price of the console we multiply the 25% by 4 to
obtain 100%:
25% × 4 = $110 × 4 = $440

3. Fred sold 500 packs of sugar at $1.40 each. First we must find Fred’s
total profit:
500 × $1.40 = $700
Next we must find out how much Fred paid to buy this sugar. To do this
we must first find the weight of the sugar he sold:
500 × 600 = 300 000 g = 300 kg
Then we multiply this by the price Fred pays:
300 × $0.75 = $225
To find the profit we subtract the amount Fred pays from the amount of
money he earned from selling the sugar:
$700 - $225 = $475

4. First we must find how much Rich Bob has to pay to make the
aeroplanes each month. To do this we must add up all the expenses.
Parts costs:
$10 × 700 = $7 000
Worker costs:

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$300 × 5 (no. of workers) × 4 (weeks in the month) = $6 000

Shipping costs:
$100 × 22 (working days in a month) = $2 200
Now we total all of these costs:
$7 000 + $6 000 + $2 200 = $15 200
To find out how much profit he makes we must find how much money he
makes from sales:
700 × $40 (selling price) = $28 000
Now we subtract the costs from the amount made to find the profit:
$28 000 – $15 200 = $12 800

5. For this question we must first find out the profit Steven is making each
week on the products he is selling:
$12 500 × 25% = $12 500 ÷ 4 = $3 125
If there are 52 weeks in a year to find how much Steven makes in the
year we must multiply his weekly profit by the number of weeks:
$3 125 × 52 = $162 500

6. If Steven makes a profit of $3 125 (From Q5) each week we must now
find how many weeks it will take Steven to pay off his home loan of
$200 000:
$200 000 ÷ $3125 = 64
It will take Steven 64 weeks to pay off his home loan. We must now
convert this into years and months, to do this we first subtract 52
(number of weeks in a year) from 64:
64 – 52 = 12 weeks remaining
12 weeks = approximately 3 months (4 weeks in a month)
Therefore it will take Steven 1 year and 3 months to pay off his home
loan.

Loss

7. The investor bought 400 shares at $765 each.

If each share dropped in price by 5%, we can group all the shares
together as it is the same as saying the total value dropped by 5%. So
we first find the total value of the shares in the beginning:
400 × $765 = $306 000
Now we find 5% of the total value:
$306 000 × 5% = $306 000 × 0.05 = $306 000 ÷ 20 = $15 300

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

8. First we find how much the merchant spent to buy the goods by adding
the original prices together:
$240 + $135 + $225 = $600
Now we add the prices that the merchant sold the goods at to find the
money he got back:
G $204 + $114.75 + $191.25 = $510
Now we subtract the total original price by the total sold price to find the
amount of money the merchant lost:
$600 – $510 = $90
To find the percentage of the original price the loss was we divide the
money lost by the original price:
$90 ÷ $600 = 0.15 = 15%

9. For this question we must find the total cost of the ingredients:
3 kg of flour at $2.00/kg = 3 × $2.00 = $6.00
A dozen eggs = $5.00
750g of cooking chocolate at $1.20/100g:
750 ÷ 100 = 7.5
7.5 × $1.20 = $9
Tub of butter = $3.00
1 kg of sugar = $1.50
2L of milk at $0.75/L = $0.75 × 2 = $1.50
Total = 6 + 5 + 9 + 3 + 1.5 + 1.5 = $26

10. For this question we first find how much money was made from selling
the cake slices:
2 cakes with 8 slices each = 2 × 8 = 16 slices altogether
Each slice sold for $1.50 so in total:
16 × $1.50 = $24
From Q9 we know that Rebecca spent $26 on the ingredients, if she
makes $24 from the bake sale then she has lost money:
26 – 24 = $2.00 loss

11. For this question we must compare the amount of money the hunter
makes from selling pheasants to the amount he spends on bullets. First
we will find how much money he makes selling pheasants:
3 pheasants per hour for 3 hours = 3 × 3 = 9
Each pheasant sells for $20:
$20 × 9 = $180

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Now we find how much the hunter spends on bullets:

20 bullets per hour for 3 hours = 20 × 3 = 60
Bullets cost $50 per 15
So 60 ÷ 15 = 4
And 4 × $50 = $200
The hunter sells the pheasants for $180 and spends $200 on bullets.
Therefore overall:
$180 (revenue) – $200 (costs) = –$20
So the hunter loses $20 overall.

12. First we must find how much the shop is selling each item for:
15 items for $810
$810 ÷ 15 = $54 each
They are currently selling items for $54 at a 10% loss. Now we must
find the original price of the item. Being at a 10% loss means that they
are selling the item at 90% of the original price. To find the original:

9
$54 = 90% =
10

Therefore 1 = $54 ÷ 9 = $6 and 10 = $6 × 10 = $60

10 10
To find the price they need to sell the items at for a 10% profit:
$60 × 10% = $60 × 0.1 = $60 ÷ 10 = $6
$60 + 10% = $60 + $6 = $66

Budget

13. (a) To answer this question we must first calculate how much money
the club has to spend in their first week.
Buying a printer = $145
200 copies of 3 page long newspaper = 200 × 3 = 600 pages
600 pages at $1.50 per 100 pages
600 ÷ 100 = 6
6 × $1.50 = $9
Total spending = $145 + $9 = $154
The newspaper club only has a budget of $150, so if the costs are
$154 they will go over budget and the members will need to take:
154 – 150 = $4 out of their pocket money to pay for the costs.

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

(b) This is actually a trick question. Some students may think that
the profit is just the newspaper club selling 200 papers for $1
dollar each:
200 × $1 = $200
But in fact the PROFIT is the REVENUE – COSTS
From (a) we worked out that the costs for this week was $154, so
to find the actual profit we must subtract this from the revenue:
$200 - $154 = $46

14. After the first week the club no longer needs to pay for the printer, so
the only thing they need to spend money on is the paper and the toner.
From Q13(a) the paper for each week costs $9, we are told that the
toner costs $75.
This means that their expenditure for the week after the first will be:
$75 + $9 = $84
From Q13(b) we know that selling the papers will give a revenue of
$200.
Thus the total profit for the second week will be the new expenditure
subtracted from the revenue:
$200 - $84 = $116

15. For this question we must consider how much money the club gains in
individual weeks.
The money received over the 4 weeks of the first month will be as
follows:
$200 + $116 + $116 + $116 = $548
This is because in the first week the club budget and pocket money was
used to pay for the cost of the printer and printing. Thus the revenue
from the first week is whatever they sold. In the following weeks they
will have to pay for the toner and the paper with the money they made
in the previous week, thus the overall gain is lower.
In the next 4 weeks:
$150 + $116 + $116 + $116 + $116 = $614
Notice that the budget for the club is MONTHLY. This means at the
start of the next month they will receive $150 in addition to the gain
they make in that week. The next three weeks are the same as the
previous.
Adding their total savings so far: $548 + $614 = $1162 which is just

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

over the $1100 required to buy the new laptops.

Thus the club will need 2 months to have enough money to buy the
laptops.

16. For this question we must first determine how much money Isabella can
spend that is not included in rent and food:
850 – 250 (Rent) – 150 (Food) = $450
This means she can save up to a maximum of $400 per week.
Next we find out how much she can save in a year if she saves $400
each week:
$450 × 52 = $23 400
She needs to save a minimum of $15 000 by the end of the year, so to
find the amount she can spend on other things we subtract this from her
savings:
$23 400 – $15 000 = $8 400
Thus in order to save at least $15 000 at the end of the year she can
spend $8 400 throughout the year. We divide this by the number of
weeks in a year to find her weekly budget:
$8 400 ÷ 52 = $161.54
To the nearest 50c = $161.50

17.

Income Expenditures Savings

Jan $1,000 $790 $210

Feb $850 $500 $350

Mar $900 $1200 -$300

Apr $950 $300 $650

May $750 $850 -$100

Jun $1,050 $600 $450

18. For this question we must first calculate how much this person saves
over the six months:
$210 + $350 – $300 + $650 – $100 + $450 = $1 260
To find how much money this person can spend each month we divide
his savings by the number of months:
$1 260 ÷ 6 = $210

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

Change
19. For this question we must total all the money spent by Charlotte:
Two tennis racquets at $15 each = $15 × 2 = $30
Tennis balls = $16.50
Four sweat bands at $3.50 each = $3.50 × 4 = $14
Half a year membership at $10 per month = $10 ×6 = $60
Deposit = $20
$30 + $16.50 + $14 + $60 + $20 = $140.50
If she was given a 10% discount it means that she only pays 90%:
$140.50 × 90% = $140.50 × 0.9 = $126.45
If Charlotte had $200 she would receive:
$200 – $126.45 = $73.55 change

20. In this question the student needs to have at least $3.00 change after
buying the largest amount of items. This means that he can spend:
$20 – $3 = $17
To find the largest number of items the student can buy, we start adding
two of each item (as that is the maximum they can buy) from the
cheapest to the most expensive we find that:
$0.50 + $0.50 + $1.00 + $1.00 + $2.00 + $2.00 + $2.50 + $2.50 +
any one of the remaining items will give us a total under $17 but not
over $17.
Thus the largest number of items a student can buy is 9.

21. First we must find the total cost of all the food Andy bought:
5 × $0.50 = $2.50
5 × $1.00 = $5.00
5 × $2.00 = $10.00
5 × $2.50 = $12.50
5 × $3.00 = $15.00
5 × $3.50 = $17.50
$2.50 + $5.00 + $10.00 + $12.50 + $15.00 + $17.50 = $62.50
Since he is buying 30 items, it is over the 20 required for a 20%
discount:
$62.50 × 20% = $62.50 × 0.20 = $62.50 ÷ 5 = $12.50
So in the end Andy must pay:
$62.50 – $12.50 = $50
If Andy has $75:
$75 - $50 = $25 change

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

22. For this question we must first total the amount of money Tim spent
buying snacks:
16 chocolates at $0.60 each = 16 × $0.60 = $9.60
5 lollies at $1.10 each = 5 × $1.10 = $5.50
3 ice blocks at $0.75 each = 3 × $0.75 = $2.25
$9.60 + $5.50 + $2.25 = $17.35
He then gave a third of his change to his brother:

$4.00 = 1 so 3 = $4 × 3 = $12 change originally

3 3
To find out how much money Tim had we add the change to the amount
he spent:
$17.35 + $12 = $29.35

Problems

23. To answer this question we must add all the costs that are provided in
the information:
100 000 rubber duckies with the materials costing $7.50 each
4 × 100 000 × $7.50 = $3 000 000
20 workers working 8 hours, 5 days a week being paid $15/hr
4 × 20 × 8 × 5 × $15 = $48 000
4 × $1000 = $4000 on machine maintenance each week
$2000 for advertisements each month.
Since the 10% tax is at the END of the year we do not need to account
for it in this calculation.
Now we add all these costs together:
$3 000 000 + $48 000 + $4 000 + $2 000 = $3 054 000

24. If each rubber duckie sold at $15, then we multiply this by the number
of duckies sold to find the revenue:
100 000 × $15 = $1 500 000
To find the profit for each week we subtract the costs from Q23:
$1 500 000 – $763 500 = $736 500 each week

25. Now we need to find out how much profit the company makes each year.
To do this we multiply the amount of profit each week by the number of
weeks in a year:
$736 500 × 52 = $38 298 000 profit each year
Now we have to subtract 10% of taxes which means the company only

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

keeps 90% of the profit:

0.9 × 38 298 000 = 34 468 200
34 468 200 – 10 000 000 = 24 468 200

26. Yes it would be wise to invest in the company as it meets and exceeds
the investor’s criteria.

27. First we must add all the costs for Richard’s birthday night:
Venue hire = $5 000
Catering = $3 000
DJ = $30 an hour for 6 hours (6 to 12) = 30 × 6 = $180
Total: $5 000 + $3 000 + $180 = $8 180
Richard has 80 friends who are attending the party, so to find out how
much they each must pay Richard for him to break even we must divide
the costs by the amount of people attending:
$8 180 ÷ 80 = $102.25

28. For this question we must first add all the costs that Jason must pay
each day and compare it to the revenue he makes.
Costs:
5 Air Con units at $210 each unit
$210 × 5 = $1 050
Three mechanics are paid $20/hr, they are on site for 3 hours for 5
installations
$20 × 3 × 5 = $300
5% commission for the mechanics for each unit sold (5)
$400 × 5% × 5 = $100
Total Costs: $1 050 + $300 + $100 = $1450
Revenue:
5 Units sold at $400 per unit
$400 × 5 = $2 000
Client pays $150 for each installation (5)
$150 × 5 = $750
Here we ignore the information given about the miscellaneous
electronics because the question is only asking for profits from air
conditioning sales.
Total Revenue: $2 000 + $750 = $2 750
Profit = Revenue – Costs = $2 750 - $1 450 = $1 300 per day
To find out the profit per month we need to multiply the profit per day

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YEAR 4 SUPPLEMENTARY MATHS TERM 1 MODULE 5

by 7 days a week and 4 weeks in a month:

$1 300 × 7 × 4 = $36 400 profit

29. For this question we use the bit of additional information from Q28
which is the miscellaneous sales profit = $5 000 per month.
To find the total profit per month we sum the profit from air conditioning
with the profit from miscellaneous sales:
$36 400 + $5 000 = $41 400
There are 12 months in a year so to find the yearly profit we multiply
the total profit by 12:
$41 400 × 12 = $496 800
The threshold for tax is $400 000 so it means they must make less than
or equal to $400 000 a year.
To find how much they must deposit in the other bank account we
subtract the total yearly profit by the threshold amount:
$496 800 – $400 000 = $96 800

30. Assuming the situation in Q29 still applies, it means that Jason is being
taxed based on $400 000 profit, but he also keeps the $96 800 in the
bank account. For this question we must add the total savings and
profits Jason makes. First we must calculate the amount he loses due to
tax:
$400 000 × 10% = $40 000
$400 000 – $40 000 = $360 000 profit
To this we add the amount he saves in the other bank account:
$360 000 + $96 800 = $456 800 savings per year
To find out how long Jason will take to pay off his $1 500 000 mortgage
we divide this by the amount Jason is saving each year:
$1 500 000 ÷ $456 800 = 3.28 years to pay it off
3.28 years × 12 = 39.4 months
As payments for 39 months will only allow for $1 482 000 to be paid off
It will take Jason 40 months to pay off his mortgage.

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