a store received 500 containers of milk to be sold by Febuary 1. Each container the store sold $0.83 and sold for $1.67. The sto
re signed a contract with the distributor in which the distributor agreed to a $0.50 refund for every container not sold by Febuary 1. If 470 containers were sold bu February 1, how much profit did the store make?
The amount of net profit the store makes on each container is given by 1.67-0.83 (the amount it is sold for subtracted by the amount it costs the store), which is $0.84 per container. They sell 470 containers, so the net profit at this point is 470(0.84) = $394.80.
However, since the distributor is giving the store a $0.50 refund on all every container under 500 that the store sells, the store gets additional money back:
