Your group buys a box of Mylar balloons with zoo animals printed on them for $10 and decides to sell the balloons for $2 each. What is your profit if your group sells 30 balloons?
30 * $2 = total income
Total income - price paid = profit
what is an income anyway???
Income is the money that people give you in exchange for a service or a product.
To calculate the profit, we first need to determine the total revenue generated from selling the balloons, and then subtract the cost of the balloons.
The total revenue can be calculated by multiplying the number of balloons sold (30) by the selling price per balloon ($2).
Total Revenue = Number of balloons sold x Selling price per balloon
Total Revenue = 30 x $2 = $60
Now that we know the total revenue, we can calculate the profit by subtracting the cost of the balloons from the total revenue.
Profit = Total Revenue - Cost of balloons
The cost of the balloons is given in the problem as $10.
Profit = $60 - $10 = $50
Therefore, the profit made by your group from selling 30 balloons is $50.