Chumley from the TV show "Pawn Stars" bought some vintage watches for $15 each. He sold five of the watches for $36 each. What was the total amount of profit made for the watches sold?
5 (36-15)
To find the total amount of profit made for the watches sold, we first need to determine the cost of the watches and the total amount received from selling them.
Chumley bought the vintage watches for $15 each, so the cost of five watches would be:
Cost of 5 watches = $15 x 5 = $75
He then sold each watch for $36, so the total amount received from selling five watches would be:
Amount received from selling 5 watches = $36 x 5 = $180
To calculate the profit, we subtract the cost from the total amount received:
Profit = Amount received - Cost
Profit = $180 - $75 = $105
Therefore, the total amount of profit made from selling the watches would be $105.
To find the total amount of profit made for the watches sold, we need to first calculate the cost of the watches sold and then subtract that from the total amount received from selling them.
Let's break it down step by step:
Step 1: Calculate the cost of the watches sold.
Chumley bought each vintage watch for $15, and he sold five watches. So, the cost of the watches sold would be:
Cost of one watch: $15
Number of watches sold: 5
Total cost of the watches sold: $15 x 5 = $75
Step 2: Calculate the total amount received from selling the watches.
Each watch was sold for $36, and Chumley sold five watches. So, the total amount received from selling the watches would be:
Price of one watch: $36
Number of watches sold: 5
Total amount received: $36 x 5 = $180
Step 3: Calculate the profit made.
To find the profit made, we subtract the cost of the watches sold from the total amount received from selling them:
Total amount received: $180
Total cost of the watches sold: $75
Profit made: $180 - $75 = $105
Therefore, the total amount of profit made for the watches sold is $105.