Your parents heard about the success of your business and they want to help you out. Suppose they want to give you an additional $300 to put toward your business. However, there's a catch. If you make more than $600 additional profit, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.

Question

Your parents heard about the success of your business and they want to help you out. Suppose they want to give you an additional $300 to put toward your business. However, there's a catch. If you make more than $600 additional profit, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.

g)
If you still sell your item for the same price, what is the most money you can hope to earn from your business now?

Answer 1

The most money you can hope to earn from your business now is $900.

This is calculated by adding the original profit of $600 to the additional $300 that your parents gave you.

Answer 2

To figure out the most money you can hope to earn from your business now, you need to determine the point at which you would start owing 10% of your earnings above $600 to your parents.

Let's say you make this additional profit as x dollars. According to the condition, when x is greater than $600, you owe 10% of (x - $600) to your parents.

So, you need to calculate the point at which x exceeds $600, and then calculate 10% of the amount above $600.

Let's set up the equation:

x - $600 > $600

Simplifying this equation, we get:

x > $1200

This means that once you earn more than $1200 in additional profit, you will owe 10% of the amount above $600 to your parents.

Now, let's calculate the most money you can hope to earn from your business by considering the condition:

When x is less than or equal to $600, you don't owe anything to your parents.

So, the most money you can hope to earn from your business is $600 (since x ≤ $600) without owing anything to your parents.

Therefore, the most money you can hope to earn from your business now is $600.

Answer 3

To determine the most money you can hope to earn from your business now, we need to consider the additional $300 from your parents and the condition that you have to give them 10% of your earnings above $600.

First, let's calculate the earnings above $600. Since you are given an additional $300, your total earnings above $600 will be $300.

Next, let's calculate the amount you have to give your parents. Since they require 10% of your earnings above $600, you will owe them 10% of $300, which is $30.

Now, subtract the amount you owe your parents from your additional earnings to calculate your net additional profit. So, $300 - $30 = $270.

Therefore, the most money you can hope to earn from your business now is an additional $270.