// Numbas version: exam_results_page_options
{"name": "Numerical reasoning - price markup", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"functions": {}, "name": "Numerical reasoning - price markup", "tags": ["maths-aid", "money", "numerical reasoning", "percentage", "price", "profit"], "advice": "<p>In order to realise a profit of {profit}%, the selling price of the item must be {100+profit}% of the cost of production.</p>\n  <p>This price is $\\frac{\\var{100+profit}}{100} \\times \\var{produce} = &pound;\\var{sell}.$</p>\n  <p>When rounding this to the nearest penny, a decision has to be made whether the price is &pound;{floor(sell*100)/100} or &pound;{ceil(sell*100)/100}. Usually,&nbsp;if the&nbsp;next digit after the one being rounded is&nbsp;{if(fract(sell*100)&lt;0.5,'less than 5 then we round down','greater than or equal to 5 then we round up')}, so we take the price to be <strong>&pound;{dpformat(sell,2)}</strong>.</p>", "rulesets": {}, "parts": [{"prompt": "<p>Give your answer to the nearest penny.</p>\n      <p>&pound; [[0]]</p>", "gaps": [{"precisiontype": "dp", "precisionmessage": "<p>You didn't give your answer to the nearest penny. Round your answer to two decimal places.</p>", "maxvalue": "precround(sell,2)+0.005", "minvalue": "precround(sell,2)-0.005", "precisionpartialcredit": 50.0, "precision": 2.0, "marks": 1.0, "type": "numberentry", "showPrecisionHint": false}], "type": "gapfill", "marks": 0.0}], "extensions": [], "statement": "<p>An item costs <strong>&pound;{dpformat(produce,2)}&nbsp;</strong>to produce. How much should the manufacturer sell these items for if it wants to realise a profit of&nbsp;<strong>{profit}%</strong>&nbsp;on these items?</p>", "variable_groups": [], "progress": "ready", "type": "question", "variables": {"profit": {"definition": "random(5..35#10)", "name": "profit"}, "sell": {"definition": "produce*(1+profit/100)", "name": "sell"}, "produce": {"definition": "random(2..10)+random(0.25,0.75,0.50)", "name": "produce"}}, "metadata": {"notes": "", "description": "<p>Given the cost to produce an item and a desired markup, calculate the appropriate sale price.</p>", "licence": "Creative Commons Attribution 4.0 International"}, "showQuestionGroupNames": false, "question_groups": [{"name": "", "pickingStrategy": "all-ordered", "pickQuestions": 0, "questions": []}], "contributors": [{"name": "Christian Lawson-Perfect", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/7/"}]}]}], "contributors": [{"name": "Christian Lawson-Perfect", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/7/"}]}