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.

f)
Now that you have an additional $300, revise your inequality from part a to reflect your new spending limit. Solve this inequality.

14x ≤ 10,300 14x/14 ≤ 10,300/14 x=736

If you still sell your item for the same price, what is the most money you can hope to earn from your business now? T = 36,800

Will you have to pay your parents, if so, how much will you owe your parents

Answer 1

Yes, the person will have to pay their parents. They will owe their parents 10% of their earnings above $600. Since the person's earnings are $36,800, the amount above $600 is $36,200. 10% of $36,200 is $3,620. Hence, the person will owe their parents $3,620.