A shopkeeper calculates that for each reduction of $1 in the price of a $50 pair of jeans, another customer will buy a pair. Show that if 10 customers will buy the jeans at full price, sales receipts will be S = (10 + x)(50 - x), where x is the price reduction in dollars. The jeans cost $24 per pair.
a) Find an expression for the profit, P, made in jean sales in terms of x.

Question

A shopkeeper calculates that for each reduction of $1 in the price of a $50 pair of jeans, another customer will buy a pair. Show that if 10 customers will buy the jeans at full price, sales receipts will be S = (10 + x)(50 - x), where x is the price reduction in dollars. The jeans cost $24 per pair. 
a) Find an expression for the profit, P, made in jean sales in terms of x.

jim_thompson5910 · Answer

Profit = Revenue - Cost


Revenue is equal to the amount in sales (in dollars)