Question

Peter makes a large amount of pink paint by mixing red and white paint in the ratio 2 : 3. Red paint costs £80 per 10 litres. White paint costs £5 per 10 litres. Peter sells his pink paint in 10-litre tins for £60 per tin. Calculate how much profit he makes for each tin he sells

Answer 1

Answer: £25

Step-by-step explanation:

Given the following :

pink paint production = mixing red and white paint in the ratio 2 : 3

Price of red paint = 80 per 10 Litre

Price of white paint = 5 per 10 Litre

Selling price of pink paint = £60 per 10 litre

Recall the ratio of red to white paint :

2 : 3 ; 2 +3 = 5

Therefore,

Amount of Red paint used:

= (2/5) × 10 ; 20/5 = 4,

Cost per Litre = 80 / 10 = £8

Cost of red paint = 4 × 8 = £32

Amount of white paints used:

= (3/5) × 10 ; 30/5 = 6

Cost per Litre = 5 / 10 = £0.5

Cost of white paint = 6 × 0.5 = £3

Total cost of production = £(32 + 3) = £35

Profit = selling price - product cost

Profit = £(60 - 35) = £25