yr20002002
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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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nobrains
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

The total profit did the store make is $196.5 and this can be determined by using the formula of profit and using the given data.

Given :

  • 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.

The formula of profit is given below:

Profit = Revenue - Expenses    --- (1)

So, first determine the total cost of the 300 containers.

Total Cost = 300 [tex]\times[/tex] 0.79

                 = $237

Now, determine the revenue for the 270 sold containers.

Revenue = 270 [tex]\times[/tex] 1.55

               = $418.5

Now, the determine the revenue for the 30 unsold containers.

Revenue = 30 [tex]\times[/tex] 0.50

               = $15

So, the total revenue is given by:

Total Revenue = 418.5 + 15

                        = $433.5

Now, substitute the known terms in the equation (1).

Profit = 433.5 - 237

         = $196.5

So, the total profit did the store make is $196.5.

For more information, refer to the link given below:

https://brainly.com/question/1494270

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