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