A set of pencils sells for $1.75 and costs $0.40 to make. Twenty percent of the profit ( the difference between the purchase pri
ce and the amount it costs to make) from each set of pencils goes to school. If 500 sets are sold, what is the amount of money that will go to the school.
$875 is how much money they have. We need to find the total cost it took to make the pencils and then subtract that from the money they have, to find the profit.
0.40 x 500 = 200
so subtract.
875 x 200 = 675.
So they mad $675. To find twenty percent of that, we need 20% as a decimal and multiply it by 675.
0.20 x 675 = 135
$135
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