Clay Potts owns a ceramic store. His brother Jack works for him. Jack earns wages of 50 dollars per day plus 10% of the profits. Clay gets the other 90% of the profits. On Monday the store makes a profit of 30 dollars. How much does Clay get?
Jack's pay = 50 + .1(30) = $53
Clay gets .9(30) = $27
Clay just lost $26.
At a profit of $30 per day, poor Clay is about to close shop.
To calculate how much Clay gets, we first need to find the total profit of the store. In this case, the profit is given as $30.
Since Jack earns 10% of the profits, we can calculate his earnings by multiplying the profit by 10% (which can also be written as 0.10). So, Jack earns $30 x 0.10 = $3.
Now, let's calculate the remaining 90% of the profit that Clay gets. We subtract Jack's earnings from the total profit: $30 - $3 = $27.
Therefore, Clay gets $27 of the profit for Monday.