Ace Landscape buys 100 shovels for $15 each. Ace sells all 100 shovels at $29.99 each. What is his profit?

So, assuming that there is no overhead, we are finding the gross profit.
The profit will be selling price - cost = gross profit or x selling price - cost = x

selling price = $29.99 (no rounding)

cost = $15


selling price - cost = x
29.99 - 15 = x
Collect Like Terms 14.99 = x
Ace Landscaping made a gross profit of $14.99 per shovel. Since they sold 100 shovels, their profit is increased 100-fold.
$14.99(100) = total gross profit
$1499 = total gross profit
Ace Landscaping grossed $1499. (A LOT) (RIP-OFF :P)

Answered by SchwarzschildRadius | 2024-06-10

To work out the profit, firstly, you have to work out the cost of buying them, which is $15 multiplied by 100, which is $1500. You then have to work out what he sold them all at, which is $29.99 multiplied by 100, which is $2999. You then have to subtract $1500 from $2999, giving you $1499. Therefore, Ace made $1499 in profit. Hope this helps :)

Answered by HolmesNWatson | 2024-06-10

Ace Landscape buys 100 shovels for $15 each and sells them for $29.99 each, resulting in a total revenue of $2999 and a total cost of $1500. The profit is calculated by subtracting the total cost from the total revenue, yielding a profit of $1499. Thus, Ace Landscaping made a profit of $1499 from this transaction.
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Answered by SchwarzschildRadius | 2024-10-02