Question

To determine whether a business is making
enough profit, the following formula is used:
p=(s-c)/s
where P is relative profit, S is sales and C
is costs. If a company has $340 000 worth
of sales and $230000 of costs, correct to 2
significant figures, calculate the maximum
and minimum relative profit to the
appropriate accuracy.

Answer 1

Answer:

profit =sp-cp

$340000 - 230000 =$

that is the ans i thought

Answer 2

Given:-

Sales (s) = 340,000 dollar

Costs (c) = 230,000 dollar

To Find:-

The maximum and minimum relative profit to the

appropriate accuracy.

Solution:-

To find the maximum and minimum relative profit, you should follow these simple steps.

Now,

Sales (s) = 340,000 dollar

Costs (c) = 230,000 dollar

Profit (p) = Sales - Costs

p = s - c

p = 340,000 - 230,000

p = 110,000

Now, for calculating the Relative Profit we have the formula,

Relative Profit (rp) =

$\frac{profit}{sales}$

$rp = \frac{p}{s}$

$rp = \frac{110000}{340000}$

$rp = \frac{11}{34}$

$rp = 0.32 \: 35$

Hence, The maximum and minimum relative profit to the appropriate accuracy is 0.32 35.

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