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Thread: Gross Profit

  1. #1
    Super Member harpazo's Avatar
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    Gross Profit

    A certain grocery purchased x pounds of produce for p dollars per pound. If y pounds of the produce had to be discarded due to spoilage and the grocery sold the rest for s dollars per pound, which of the following represents the gross profit on the sale of the produce?

    Let me break it down to the best of my ability.

    A certain grocery purchased x pounds of produce for p dollars per pound.

    This tells me to multiply x times p or xp.

    If y pounds of the produce had to be discarded due to spoilage and the grocery sold the rest for s dollars per pound, which of the following represents the gross profit on the sale of the produce?

    So, y pounds discarded means to subtract y from x or (x - y).

    The grocery sold the rest for s dollars per pound. I figure that
    (x - y) represents THE REST. If so, this leads to (x - y)s or
    s(x - y). If my logic is clear, the answer is A, right? If my logic makes no sense, please tell me why.

    A. (x - y)s - xp
    B. (x - y)p - ys
    C. (s - p)y - xp
    D. xp - ys
    E. (x - y)(s - p)
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  2. #2
    MHF Contributor
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    Re: Gross Profit

    Great start! What you have found is cost (xp) and revenue ((x-y)s)

    Gross profit = Revenue - Cost

    So now you can finish it off.

    EDIT: Sorry, you've done that! I didn't read the end properly. Well done!
    Last edited by Debsta; Feb 5th 2019 at 01:27 PM.
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  3. #3
    MHF Contributor

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    Re: Gross Profit

    Quote Originally Posted by harpazo View Post
    A certain grocery purchased x pounds of produce for p dollars per pound. If y pounds of the produce had to be discarded due to spoilage and the grocery sold the rest for s dollars per pound, which of the following represents the gross profit on the sale of the produce?

    Let me break it down to the best of my ability.

    A certain grocery purchased x pounds of produce for p dollars per pound.

    This tells me to multiply x times p or xp.
    To get total cost, yes.

    If y pounds of the produce had to be discarded due to spoilage and the grocery sold the rest for s dollars per pound, which of the following represents the gross profit on the sale of the produce?

    So, y pounds discarded means to subtract y from x or (x - y).
    Yes, they solve x- y pounds.

    The grocery sold the rest for s dollars per pound. I figure that
    (x - y) represents THE REST. If so, this leads to (x - y)s or
    s(x - y). If my logic is clear, the answer is A, right? If my logic makes no sense, please tell me why.
    Yes, that is correct.

    A. (x - y)s - xp
    B. (x - y)p - ys
    C. (s - p)y - xp
    D. xp - ys
    E. (x - y)(s - p)
    Yes, A is correct. Net sales is (x- y)p and cost was xp so gross product was (x- y)p- ys.
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  4. #4
    Super Member harpazo's Avatar
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    Re: Gross Profit

    Good to know that I got this one right.
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