Question

1. Fast Trackers Sporting Goods received 360 pairs of Adidas running shoes. Each pair sells for
$58. Acme found 1/9 of the pairs to be defective and returned them. Assuming each pair cost Fast
Trackers $26, what profit did Fast Trackers make assuming that all non defective sneakers were
sold?

Answer 1

Fast trackers will make a profit of $10,240.

Step-by-step explanation:

Given,

Total pairs of shoes received = 360 pairs

Defective pieces = 1/9 of received shoes

Number of defective pieces = $\frac{1}{9}*360=40\ pairs$

Therefore;

Pairs of shoes sold = Total received - Defective pairs

Pairs of shoes sold = 360 - 40 = 320 pairs

Selling price of one pair = $58

Purchase price of one pair = $26

Profit = Selling price - Purchase price

Profit = 58-26 = $32

Profit on 320 pairs = $32*320 = \ 10240$

Fast trackers will make a profit of $10,240.

Keywords: profit, subtraction

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Answer 2

Answer:

Net profit = (total shoes sold) - total cost

= (320x58)-(360x26)

=9200

Step-by-step explanation: