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

Patrick Moyer

Mathematics

7 August, 00:19

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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Raegan Cortez · 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