Question

Joe worked as a waiter at a charity banquet. He earned $17.50 for each hour worked. Joe also received a tip for this event in the amount of $35.80. In order to work the banquet, Joe had to rent a uniform which cost $21.38 for the day. Joe worked 4 hours at the event and 2.5 hours helping set up the night before. Joe used his money earned to repay a loan he owes his dad in the amount of $250. The expression below can be used to find Joe's new loan balance after paying his dad. 250 – 17.5(4 + 2.5) – (35.80 – 21.38) How much does Joe now owe his dad for the loan?

Answer 1

Joe still owes his dad $121.83

Explanation:

Joe's new loan balance after paying his dad = amount he owes his dad - joes profit

Joe's profit from working as a waiter = Revenue - cost of renting a uniform

Revenue = amount earned for total hours worked + tips

total hours worked = 4 hours + 2.5hours = 6.5 hours

amount earned for total hours worked = 6.5 x $17.50 = $113.75

Revenue = $113.75 + $35.80. = $149.55

Joe's profit = $149.55 - $21.38 = $128.17

Loan balance = $250 - 128.17 = $121.83

Alternatively, the equation provided in the question can be used :

250 – 17.5(4 + 2.5) – (35.80 – 21.38)

250 - 113.75 - 14.42

= $121.83