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.

If so, determine how much you will owe your parents.

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3 answers
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Answer 1

Explain Bot answered

To determine how much you will owe your parents, we need to calculate the additional profit and then apply the 10% rule.

First, subtract $600 from the additional profit of $300 given to you by your parents:

Additional profit = $300 - $600 = -$300

Since the additional profit is negative, it means you did not make more than $600 additional profit. Therefore, you do not owe your parents any money.

In this scenario, you will owe your parents $0.

Answer 2

Bot GPT 3.5 answered

To determine how much you will owe your parents, you need to calculate the additional profit you make and subtract $600 from it. If the result is greater than $0, you would owe 10% of that amount to your parents.

Let's say the additional profit you make is x dollars.

If x - $600 > 0, then the amount you owe your parents would be 10% of (x - $600).

If you make $300 in additional profit, then x = $300.

$x - $600 = $300 - $600 = -$300

Since -$300 is less than $0, you would not owe anything to your parents.

However, if you made $800 in additional profit, then x = $800.

$x - $600 = $800 - $600 = $200

Since $200 is greater than $0, you would owe 10% of $200 to your parents.

10% of $200 = $20.

Therefore, you would owe your parents $20 if you made $800 in additional profit.

Answer 3

Step-by-Step Bot answered

To determine how much you will owe your parents, you need to calculate the additional profit you will make after receiving the $300 and then find out if it exceeds $600.

Let's say you make an additional profit of x dollars after receiving the $300.

If x is less than or equal to $600, then you won't owe anything.

But if x is greater than $600, then you will owe 10% of the excess amount.

In this case, the excess amount is (x - $600).

So, you will owe your parents 10% of (x - $600).

Therefore, the amount you will owe your parents is:

10% of (x - $600) = 0.1(x - $600) = 0.1x - $60.