Profit

Front

What is profit?

Back

Profit is the amount of money a person makes after subtracting all costs from the total income.

Front

How do you calculate profit?

Back

Profit = Total Income - Total Costs.

Front

What is a cost?

Back

A cost is the amount of money spent to buy or produce something.

Tags

CCSS.6.NS.B.3

Front

What is a selling price?

Back

The selling price is the amount of money a buyer pays for a product.

Tags

CCSS.6.RP.A.3B

Front

If you buy an item for $10 and sell it for $15, what is your profit?

Back

Your profit is $5.

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CCSS.7.EE.B.3

Front

Why do people deposit money in banks?

Back

People deposit money in banks to keep their money in a safe place.

Tags

CCSS.RI.3.3

CCSS.RI.3.5

CCSS.RI.4.3

CCSS.RI.4.5

CCSS.RI.5.5

Front

What does it mean to lend money?

Back

To lend money means to give someone money with the expectation that they will pay it back later.

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CCSS.RI.3.4

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.RL.4.4

CCSS.RL.5.4

Front

What is interest?

Back

Interest is the extra money paid on top of the original amount borrowed, usually expressed as a percentage.

Tags

CCSS.6.RP.A.3C

Front

If you buy a lamp for $15, repair it for $3, and sell it for $29, what is your profit?

Back

Your profit is $10 (Selling Price $29 - Total Costs $18).

Tags

CCSS.7.NS.A.3

Front

What is a garage sale?

Back

A garage sale is a sale of unwanted items, typically held in a person's garage or yard.

Tags

CCSS.RI.3.3

CCSS.RI.3.5

CCSS.RI.4.3

CCSS.RI.4.5

CCSS.RI.5.3