A store received 300 containers of milk to be sold by February 1. Each container cost the store $0.79 and sold for $1.55. The store signed a contract with the distributor in which the distributor agreed to a $0.50 refund for every container not sold by February 1. If 270 containers were sold by February 1, how much profit did the store make?

Question

Mathematics

Quinn Salas

18 July, 03:23

A store received 300 containers of milk to be sold by February 1. Each container cost the store $0.79 and sold for $1.55. The store signed a contract with the distributor in which the distributor agreed to a $0.50 refund for every container not sold by February 1. If 270 containers were sold by February 1, how much profit did the store make?

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Luz Prince · Answer 1

The question is: If 270 containers were sold by February 1, how much profit did the store make?

Given info:

300 containers total

Cost: $0.79

Sold: $1.55

$0.50 refund (+$0.50) for containers not sold by Feb 1

Total cost for 300 containers is 300 ($0.79) = $237

Revenue for the 270 containers would be

270 ($1.55) = $418.5

Revenue for the 30 unsold containers (due to rebate) is 30 ($0.50) = 15

Total revenue is $433.50

Profit is revenue - expenses

$433.50 - $237 = $196.5