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.

So determine how much you will owe your parents.

Answer 1

To determine how much you will owe your parents, you need to calculate how much profit you will make beyond $600 if you receive an additional $300.

Profit beyond $600 = Additional funds - $600
Profit beyond $600 = $300 - $600
Profit beyond $600 = -$300

In this case, the profit beyond $600 is negative, indicating that you would not owe your parents anything since you did not make any additional profit.

Answer 2

To determine how much you will owe your parents, follow these steps:

Step 1: Calculate the additional profit generated from the additional $300.

To do this, subtract the additional $300 from the $600 threshold.
Additional profit = $600 - $300 = $300

Step 2: Determine if the additional profit exceeds $600.
If the additional profit is less than or equal to $600, you do not owe anything to your parents.
If the additional profit is greater than $600, proceed to step 3.

Step 3: Calculate the amount owed to your parents above the $600 threshold.

To do this, subtract $600 from the additional profit and find 10% of the resulting value.
Amount owed = 10% of (Additional profit - $600)

Let's calculate it:

Amount owed = 10% * ($300 - $600)
= 10% * (-$300)
= -0.10 * $300
= -$30

Since the amount is negative, it means you don't owe your parents anything in this scenario. The negative value indicates that your additional profit did not exceed the $600 threshold.

Answer 3

To determine the amount you will owe your parents, follow these steps:

Step 1: Calculate your additional profit:
Additional profit = Total additional amount - $600
Additional profit = $300 - $600
Additional profit = -$300

Step 2: Determine if your additional profit is less than or equal to $0. If it is, then you won't owe your parents anything.

Since your additional profit is -$300, which is less than $0, you won't owe your parents anything.