Math Problem Statement
A storeowner orders 25 calculators that cost $2929 each. The storeowner can sell each calculator for $3939. The storeowner sold 22 calculators to customers. He had to return 3 calculators that were never sold and pay a $55 charge for each returned calculator (although the initial cost is refunded). What is the storeowner's profit?
Solution
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Math Problem Analysis
Mathematical Concepts
Profit Calculation
Revenue
Expenses
Refunds
Formulas
Total cost = number of items purchased × cost per item
Total revenue = number of items sold × sale price per item
Total profit = total income - total cost
Return charge = number of returned items × charge per returned item
Theorems
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Suitable Grade Level
Grades 6-8