Question

Hello all ¡! ☺
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Refer the above attachment for question.. ☺♥

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Answer 1

Hey mate ^_^

Here is ua answer... ⏬⏬

One of the most basic rules of economics is the following :

Profits = Revenues - Expenses.

He spent a total of (10+30=) $40 on the horse, and made a total revenue of (20+40=) $60.

60–40=20 therefore his total profit is $20.

Buh...!!!

In 2nd purchase the person bought the same horse at a price which exceeds his SP price by $10.

So.....

He lost $10 in the 2nd purchase.

So....

This is why, we will subtract $10 from his total profit.

So.....

Total income from these 2 deals = Total Profit - $10

= $20 - $10

= $10

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Answer: $10
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#Be Brainly❤️❤️

Answer 2

$<b>For first purchase,<b>$
CP of horse = $10
SP of horse = $20

Since, SP>CP, Profit is gained.
Profit made in this deal = SP - CP = 20 -10 = $10 ...........[I]

For second purchase,
CP of horse = $30
SP of horse = $40

Again, SP>CP
So, Profit is gained.
Profit made in this deal = SP - CP = 40 - 30 = $10 ..........[II]

From [I] & [II],
Total Profit = 10 + 10 = $20

BUT!
We can see that in second purchase the person bought the same horse at a price which is exceeds the his SP price by $10.
So,
He lost $10 in the second purchase.
This is why we will subtract $10 from his total profit.
Hence,
Total income from these two deals = Total Profit - $10 = $20 - $10 = $10