High School

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At the end of the day, a local bakery sold 83 cakes and had to throw out 7 cakes due to baking errors. Each cake cost the bakery [tex]\$6.25[/tex] to make. The bakery sold each cake for [tex]\$12.75[/tex]. What was the total profit earned by the bakery today?

A. [tex]\$406.50[/tex]
B. [tex]\$452.00[/tex]
C. [tex]\[tex]$495.75[/tex]
D. [tex]\$[/tex]539.50[/tex]
E. [tex]\$585.00[/tex]

Answer :

To find the total profit earned by the bakery today, we need to calculate a few key figures: the total cost of making the cakes, the total revenue from selling the cakes, and then subtract these two to find the profit.

1. Calculate the Total Cost:

First, determine how many cakes were made in total. This includes both the cakes sold and the cakes that were thrown out due to baking errors.

[tex]\[
\text{Total cakes made} = \text{Cakes sold} + \text{Cakes thrown out} = 83 + 7 = 90
\][/tex]

Each cake costs \[tex]$6.25 to make. Therefore, the total cost to make all the cakes is calculated as:

\[
\text{Total cost} = \text{Total cakes made} \times \text{Cost per cake} = 90 \times 6.25 = \$[/tex]562.50
\]

2. Calculate the Total Revenue:

Now, calculate the revenue from selling the cakes. Only the cakes that were sold contribute to revenue.

[tex]\[
\text{Total revenue} = \text{Cakes sold} \times \text{Selling price per cake} = 83 \times 12.75 = \$1058.25
\][/tex]

3. Calculate the Total Profit:

Finally, determine the total profit by subtracting the total cost from the total revenue:

[tex]\[
\text{Total profit} = \text{Total revenue} - \text{Total cost} = 1058.25 - 562.50 = \$495.75
\][/tex]

So, the total profit earned by the bakery today was \$495.75.

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