Question 1: A shop sells 50 items each day for £10. What is the shop's daily revenue?

Answer: Daily Revenue = 50 items × £10 = £500

Question 2: A business spends £200 on materials and pays £300 in wages to its workers in one week. What is the total cost for that week?

Answer: Total Cost = £200 + £300 = £500

Question 3: If a company earns £1,200 in revenue and its total costs are £800, what is its profit?

Answer: Profit = Revenue - Costs = £1,200 - £800 = £400

Question 4: A product is sold for £15. If the cost to produce each item is £9, what is the profit made on each item?

Answer: Profit per item = Selling Price - Cost Price = £15 - £9 = £6

Question 5: A business has revenue of £5,000 and expenses of £3,500 in a month. What is the net profit?

Answer: Net Profit = £5,000 - £3,500 = £1,500

Question 6: Sketch a simple bar chart showing the monthly revenue for a business over four months: £2,000, £2,500, £3,000, and £3,500.

Answer: A bar chart with four bars labeled Month 1 to Month 4, with heights proportional to the revenue: £2,000, £2,500, £3,000, £3,500.

Question 7: A shop increases its selling price from £8 to £10. If their costs remain at £5 per item, how much more profit does the shop make on each item after the increase?

Answer: Original profit per item = £8 - £5 = £3; new profit per item = £10 - £5 = £5; Increase in profit = £5 - £3 = £2

Question 8: Calculate the percentage increase in revenue if a business's revenue rises from £4,000 to £5,000.

Answer: Percentage increase = [(£5,000 - £4,000) / £4,000] × 100 = (£1,000 / £4,000) × 100 = 25%

Question 9: A company has a fixed cost of £1,000 per month. If each product costs £4 to make and is sold for £10, how many units must they sell to break even?

Answer: Break-even point = Fixed Costs / (Selling Price - Cost per unit) = £1,000 / (£10 - £4) = £1,000 / £6 ≈ 167 units

Question 10: Draw a simple pie chart representing the proportion of costs in a business: 50% wages, 30% materials, and 20% rent. Label each section clearly.

Answer: A pie chart divided into three sections: half (50%) labeled 'Wages', nearly one-third (30%) labeled 'Materials', and one-fifth (20%) labeled 'Rent'.