Real-Life Math -- Solution
Before you can figure out your cut of the 60-40 deal with the vendor, you want to check their math. To get the total of sales on food and drinks, multiply the number of items sold by the price.
Hot dogs
8,765 x $2.50 = $21,912.50
Nachos
2,902 x $2.75 = $7,980.50
Popcorn
4,101 x $2 = $8,202
Beer
5,499 x $1.75 = $9,623.25
Soft drinks
16,111 x $1 = $16,111
Total = $21,912.50 + $7,980.50 + $8,202 + $9,623.25 + $16,111
Total = $63,829.25
The total sales that vendor took in were $63,829.25. What's your cut of that?
$63,829.25 x 0.60 = $38,297.55
Looks like what the vendor did was give you the 40 percent cut and kept the 60 percent cut for themselves. You need to return the check and ask for the full amount.
If you had gone with the 50-50 contract, you and the vendor would have split $63,829.25.
$63,829.25 / 2 = $31,914.63
This is a difference of $6,382.93 between the 2 contracts.