GRADE 9 FINANCIAL MATHEMATICS WORKSHEET 1. Thulani sells chocolates at R12 each, after he has added \( 40 \% \) profit. What was the cost price of these chocolates?

To find the cost price of the chocolates, we can use the formula: \[ \text{Cost Price} = \frac{\text{Selling Price}}{1 + \text{Profit Percentage}} \] Given: - Selling Price = R12 - Profit Percentage = 40% Substitute the values into the formula: \[ \text{Cost Price} = \frac{12}{1 + 0.4} \] Now, we can calculate the cost price. Calculate the value by following steps: - step0: Calculate: \(\frac{12}{\left(1+0.4\right)}\) - step1: Remove the parentheses: \(\frac{12}{1+0.4}\) - step2: Add the numbers: \(\frac{12}{1.4}\) - step3: Convert the expressions: \(\frac{12}{\frac{7}{5}}\) - step4: Multiply by the reciprocal: \(12\times \frac{5}{7}\) - step5: Multiply: \(\frac{12\times 5}{7}\) - step6: Multiply: \(\frac{60}{7}\) The cost price of the chocolates is \(8\frac{4}{7}\) or approximately 8.57.