Question

A store received 620 containers of milk to be sold by March 1. Each container cost

the store $0.78 and sold for $1.56. The store signed a contract with the distributor in
which the distributor agreed to a $0.40 refund for every container not sold by March
1. If 430 containers were sold by March 1, how much profit did the store make?

Answer 1

9514 1404 393

Answer:

$263.20

Explanation:

The number not sold was ...

620 -430 = 190

The cost for a container not sold was ...

$0.78 -0.40 = $0.38

__

The cost of containers sold was ...

$0.78 × 430 = $335.40

The cost of containers not sold was ...

$0.38 × 190 = $72.20

The total cost for the 620 containers of milk was ...

$335.40 +72.20 = $407.60

The total revenue from the 430 containers sold was ...

$1.56 × 430 = $670.80

Then the profit was ...

profit = revenue - cost

profit = $670.80 -407.60 = $263.20

_____

Additional comment

The calculation can be simplified to ...

$1.16 × (number sold) - $0.38 × (number bought)