Question

6. Jacob bought a bike for 45,300 and spent 12,500 on repairs. If he sells it for $75,000,
will he get a profit or a loss?​

Answer 1

QUESTION -

Jacob bought a bike for 45,300 and spent 12,500 on repairs. If he sells it for $75,000,

will he get a profit or a loss?

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GIVEN -

BIKE WAS BOUGHT AT THE PRICE OF = $45,300

AND HE ADDITIONALLY SPENT = $12,500

HENCE,

THE TOTAL COST PRICE BECOMES - 45,000 + 12,500 = $57,500

SELLING PRICE = $75,000

SOLUTION -

AS WE CAN SEE THAT SELLING PRICE IS GREATER THAN COST PRICE .

HENCE, THERE IS A PROFIT .

WE HAVE TO CALCULATE THE PROFIT BY PUTTING THE FORMULA

PROFIT = SELLING PRICE - COST PRICE.

PROFIT = 75,000 - 57,500

PROFIT = $ 17,500

HENCE , THERE IS A PROFIT OF $17,500.

Answer 2

Hope it will help you

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