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Year 9

Running a small business

I can understand how maths is used by independent business owners.

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Year 9

Running a small business

I can understand how maths is used by independent business owners.

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Lesson details

Key learning points

  1. Percentages are regularly used to calculate percentage profit
  2. Averages are used to track performance over a set period
  3. Performance data may be easier to analyse if presented graphically

Keywords

  • Percentage profit - Percentage profit is the increase when referencing something that is sold for more than the cost price given as a percentage of the original amount.

  • Average - An average is a single number expressing the central or typical value in a set of data; the mode, the median, and the mean.

Common misconception

Pupils may be confused about whether to multiply or divide when dealing with reversing percentage change.

The first learning cycle addresses this and you may wish to display the example on a whiteboard for the entire lesson for pupils to refer to.


To help you plan your year 9 maths lesson on: Running a small business, download all teaching resources for free and adapt to suit your pupils' needs...

Pupils may benefit from researching the cost of various items to see if they are all similarly priced. What is the benefit of offering a discount on an item so that the cost is lower than other compeititors?
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This content is © Oak National Academy Limited (2025), licensed on Open Government Licence version 3.0 except where otherwise stated. See Oak's terms & conditions (Collection 2).

Lesson video

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6 Questions

Q1.
Percentage is the increase when referencing something that is sold for more than the cost price given as a percentage of the original amount.
Correct Answer: profit
Q2.
An average is a single number expressing the central or typical value in a set of data; the mode, the , and the mean.
Correct Answer: median
Q3.
I buy a car for £5000 and carry out repairs to it myself. I then sell the car for £6500. What is my profit?
Correct Answer: £1500, 1500
Q4.
I buy a car for £5000 and carry out repairs to it myself. I then sell the car for £6500. What is my percentage profit?
Correct Answer: 30%, 30
Q5.
Here is a list of data: 72, 70, 66, 73, 69, 65, 70, 64, 67, 63. Calculate the median for this data.
Correct Answer: 68
Q6.
Here is a list of data: 72, 70, 66, 73, 69, 65, 70, 64, 67, 63. Calculate the mean for this data.
Correct Answer: 67.9

6 Questions

Q1.
Calculate the gross profit margin for a slice of coffee cake that cost £1.05 to make and sold for £2.
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Correct Answer: 47.5%
Q2.
Calculate the gross profit margin for a sandwich that cost £2.25 to make and sold for £3.50 (Give your answer to 1 d.p.)
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Correct Answer: 35.7%
Q3.
Calculate the gross profit margin for a drink that cost £1.16 to make and sold for £4.40 (Give your answer to 1 d.p.)
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Correct Answer: 73.6%
Q4.
Calculate the range of the revenue for the year.
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Correct Answer: £67 100
Q5.
Calculate the median of the revenue for the year.
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Correct Answer: £20 900
Q6.
Calculate the mean of the revenue for the year. Give your answer to the nearest penny.
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Correct Answer: £33 308.33