Running a small business

12 questions

1. Percentage ___ is the increase when referencing something that is sold for more than the cost price given as a percentage of the original amount.
2. An average is a single number expressing the central or typical value in a set of data; the mode, the ___, and the mean.
3. I buy a car for £5000 and carry out repairs to it myself. I then sell the car for £6500. What is my profit?
4. I buy a car for £5000 and carry out repairs to it myself. I then sell the car for £6500. What is my percentage profit?
5. Here is a list of data: 72, 70, 66, 73, 69, 65, 70, 64, 67, 63. Calculate the median for this data.
6. Here is a list of data: 72, 70, 66, 73, 69, 65, 70, 64, 67, 63. Calculate the mean for this data.
7. Calculate the gross profit margin for a slice of coffee cake that cost £1.05 to make and sold for £2.
8. Calculate the gross profit margin for a sandwich that cost £2.25 to make and sold for £3.50 (Give your answer to 1 d.p.)
9. Calculate the gross profit margin for a drink that cost £1.16 to make and sold for £4.40 (Give your answer to 1 d.p.)
10. Calculate the range of the revenue for the year.
11. Calculate the median of the revenue for the year.
12. Calculate the mean of the revenue for the year. Give your answer to the nearest penny.

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