Profit and Income Please view this tutorial and answer the follow-up questions on loose leaf to turn in to your teacher.

Basics Income: the amount of money you earn by selling items Profit: the money you keep after paying your expenses Rule: Profit = Income - Expenses

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.

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.

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.

Example Important Info: Materials costs $120 Selling 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.

Example Important Info: Materials costs $120 Selling bottles for $2 each I = Income P = Profit B = Number of bottles sold Since we’re solving for income, our equation will start out I =

Example Important Info: Materials costs $120 Selling bottles for $2 each I = Income P = Profit B = Number of bottles sold How will the income change for every bottle sold? I =

Example Important Info: Materials costs $120 Selling bottles for $2 each I = Income P = Profit B = Number of bottles sold The income will increase by $2 for each bottle sold, so we write… I = I = 2B

Example Important Info: Materials costs $120 Selling bottles for $2 each I = Income P = Profit B = Number of bottles sold Now, can solve for the profit. Remember, the general rule for profit is Income - Expenses

Example Important Info: Materials costs $120 Selling bottles for $2 each I = Income P = Profit B = Number of bottles sold Profit=Income-ExpensesP2B120

Follow Up Questions Answer the following questions on loose leaf and hand them in to your teacher.

Follow Up Questions Mr. 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.