profit and income please view this tutorial and answer the follow-up questions on loose leaf to turn...
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![Page 1: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/1.jpg)
Profit and Income
Please view this tutorial and answer the follow-up questions on loose leaf to
turn in to your teacher.
![Page 2: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/2.jpg)
Basics•Income: the amount of money you earn by selling items
•Profit: the money you keep after paying your expenses
Rule:Profit = Income - Expenses
![Page 3: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/3.jpg)
Example
FMLA is selling hand sanitizer as a fund raiser for their club. The materials to make the hand sanitizer costs them $120. They plan to sell the bottles for $2 each. Write a rule for the income and profit.
First, we need to find our important information.
![Page 4: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/4.jpg)
Example
FMLA is selling hand sanitizer as a fund raiser for their club. The materials to make the hand sanitizer costs them $120. They plan to sell the bottles for $2 each. Write a rule for the income and profit.
The materials cost the $120.
This is our expenses.
![Page 5: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/5.jpg)
Example
FMLA is selling hand sanitizer as a fund raiser for their club. The materials to make the hand sanitizer costs them $120. They plan to sell the bottles for $2 each. Write a rule for the income and profit.
They are selling the bottles for $2 each.
![Page 6: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/6.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
The first thing we need to identify our variables.
The things that change for this situation will be Income, Profit, and the number of bottles sold.
![Page 7: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/7.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
I = IncomeP = ProfitB = Number of bottles sold
Since we’re solving for income, our equation will start out
I =
![Page 8: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/8.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
I = IncomeP = ProfitB = Number of bottles sold
How will the income change for every bottle sold?
I =
![Page 9: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/9.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
I = IncomeP = ProfitB = Number of bottles sold
The income will increase by $2 for each bottle sold, so we write…I = I = 2B
![Page 10: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/10.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
I = IncomeP = ProfitB = Number of bottles sold
Now, can solve for the profit. Remember, the general rule for profit is Income - Expenses
![Page 11: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/11.jpg)
ExampleImportant Info:Materials costs $120Selling bottles for $2 each
I = IncomeP = ProfitB = Number of bottles sold
Profit = Income - ExpensesP 2B 120
![Page 12: Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher](https://reader036.vdocument.in/reader036/viewer/2022083009/56649d025503460f949d52ff/html5/thumbnails/12.jpg)
Follow Up Questions
Answer the following questions on loose leafand hand them in to your teacher.
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Follow Up QuestionsMr. Nelms bought a pack of 200 pencils for $5. He sells these pencils to kids that aren’t prepared for class for $.25 each.
1. What are the expenses for this problem?2. Using n for the number of pencils and I for
income, write a rule to model the income for this situation.
3. Using n for the number of pencils and P for profit, write a rule model the profit for this situation.