4. Your profit P is determined by subtracting the cost C, the amount of money it costs to operate a business, from the revenue R, the amount of money you earn from selling your product. Profit can be represented algebraically by the equations:
Profit = Revenue - Cost
OR
P = R - C
a. Rewrite the formula to solve for C.
b. Imagine your profit for 1 day is $1,281, and the cost of running the business for the day is $1,463. What is the revenue for that day? Explain your answer.
a. Rewrite the formula to solve for C.
P+c=R
C=r-p
b. Imagine your profit for 1 day is $1,281, and the cost of running the business for the day is $1,463. What is the revenue for that day? Explain your answer.
R=P+C
R=1,281+1,463
R= $2744
You can explain the answer
a. To rewrite the formula to solve for C, we need to isolate the variable C on one side of the equation.
The original formula is: P = R - C
To solve for C, we will first move the term with C to the other side of the equation by subtracting P from both sides: P + C = R
Next, we will isolate C by subtracting R from both sides: C = R - P
Therefore, the formula to solve for C is: C = R - P
b. To find the revenue for the day, given the profit and cost, we can use the formula: P = R - C
We have the profit P = $1,281 and the cost C = $1,463.
Plugging these values into the formula, we get: 1281 = R - 1463
To solve for R, we can simply rearrange the equation by adding 1463 to both sides: 1281 + 1463 = R
Adding the numbers on the left side, we have: 2744 = R
Therefore, the revenue for that day is $2744.
Explanation:
To find the revenue, we use the formula P = R - C, which relates profit (P), revenue (R), and cost (C). We rearrange the formula to solve for R since we have the values of P and C. By substituting the given values into the formula and solving for R, we determine the revenue to be $2744 for that day.