Malik buys and sells car parts. He bought two tires for $45.00 each and later sold them for $65.00 each. He bought three rims for $85.00 each and later sold them for $126.00 each. He bought five headlight covers for $5.00 each and later sold them for $15.00 each. What is Malik's total profit?

Question

Malik buys and sells car parts. He bought two tires for $45.00 each and later sold them for $65.00 each. He bought three rims for $85.00 each and later sold them for $126.00 each. He bought five headlight covers for $5.00 each and later sold them for $15.00 each. What is Malik's total profit?

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Answer 1

Malik's total profit can be calculated by adding up the profits from each type of car part.

Profit from tires: (2 tires sold for $65 each) - (2 tires bought for $45 each) = ($130) - ($90) = $40 profit per tire
Profit from rims: (3 rims sold for $126 each) - (3 rims bought for $85 each) = ($378) - ($255) = $123 profit per rim
Profit from headlight covers: (5 headlight covers sold for $15 each) - (5 headlight covers bought for $5 each) = ($75) - ($25) = $50 profit per headlight cover

Total profit = (2 tires) * ($40) + (3 rims) * ($123) + (5 headlight covers) * ($50)
Total profit = $80 + $369 + $250
Total profit = $699

Malik's total profit from buying and selling car parts is $699.