Question 1: A business has a total revenue of £50,000 and total costs of £30,000. Calculate its profit.

Answer: Profit = Revenue - Costs = £50,000 - £30,000 = £20,000

Question 2: A company's expenses are £12,000 and its profit before tax is £8,000. Find the total revenue.

Answer: Total Revenue = Profit + Expenses = £8,000 + £12,000 = £20,000

Question 3: A business spends £5,000 on advertising and has total expenses of £20,000. If its total revenue is £35,000, what is its net profit?

Answer: Net Profit = Revenue - Total Expenses = £35,000 - (£20,000 + £5,000) = £35,000 - £25,000 = £10,000

Question 4: Calculate the gross profit margin if a company's gross profit is £15,000 and its total sales are £50,000.

Answer: Gross Profit Margin = (Gross Profit / Sales) x 100 = (£15,000 / £50,000) x 100 = 30%

Question 5: A business has a loan of £10,000 with an annual interest rate of 5%. How much interest will it pay in one year?

Answer: Interest = Loan Amount x Interest Rate = £10,000 x 0.05 = £500

Question 6: A company's expenses are £8,000 and its revenue is £12,000. Calculate the profit margin as a percentage.

Answer: Profit Margin = (Profit / Revenue) x 100 = (£4,000 / £12,000) x 100 ≈ 33.33%

Question 7: Draw a simple bar chart representation that shows the following sales figures for four months: January - £5,000; February - £7,000; March - £6,000; April - £8,000. Leave space for the bars to be sketched.

Answer: A bar chart with four vertical bars, each labeled with the months and scaled proportionally to the sales figures, with the tallest bar representing £8,000 (April).

Question 8: A company wants to increase its profit by 25%. If the current profit is £40,000, what should be the new profit target?

Answer: New Profit Target = Current Profit + (Current Profit x 0.25) = £40,000 + (£40,000 x 0.25) = £40,000 + £10,000 = £50,000

Question 9: If a product costs £20 to produce and is sold for £35, what is the profit per unit?

Answer: Profit per unit = Selling Price - Cost Price = £35 - £20 = £15

Question 10: A business has a total revenue of £80,000 and total expenses of £55,000. Calculate its net profit margin percentage.

Answer: Net Profit = £80,000 - £55,000 = £25,000 Net Profit Margin = (£25,000 / £80,000) x 100 ≈ 31.25%