To determine the profit the store made on Gene's purchase of a Model [tex]$Y$[/tex] stove, we need to follow a series of calculations.
Step 1: Identify the relevant values for Model [tex]$Y$[/tex]
- Cost price (store's cost): \[tex]$850
- List price: \$[/tex]1800
- Discount: 20%
Step 2: Calculate the discount amount
The discount amount is determined by taking 20% off the list price.
[tex]\[
\text{Discount amount} = \left(\frac{20}{100}\right) \times 1800 = 0.2 \times 1800 = \$360
\][/tex]
Step 3: Calculate the price paid by Gene
Subtract the discount amount from the list price to find the actual price paid by Gene.
[tex]\[
\text{Price paid} = 1800 - 360 = \$1440
\][/tex]
Step 4: Calculate the profit made by the store
The profit is the difference between the price paid by Gene and the store's cost price.
[tex]\[
\text{Profit} = \text{Price paid} - \text{Cost price} = 1440 - 850 = \$590
\][/tex]
So, the profit made by the store on Gene's purchase is:
[tex]\[
\boxed{590}
\][/tex]
