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Example Question #343 : Arithmetic
A bakery sells donuts for
each. of the bakery's net income from donuts goes toward the cost of the ingredients, and another goes toward paying taxes. If the bakery sells donuts in one day, what is their total profit for the day?
Possible Answers:
Correct answer:
Explanation:
Donuts are priced at $1.25 per unit and 230 were sold, so net income is calculated as such:
Cost of materials and tax are calculated as such, respectively:
Net profit is calculated by deducting cost of materials and tax from net income:
Example Question #344 : Arithmetic
A fishing boat in Alaska nets
in revenue from the salmon run. If local taxes are and each of the five crew members take a cut of the net income, what is the remaining profit for the boat's owners?
Possible Answers:
Correct answer:
Explanation:
Of the $85,000 in revenue, five crew members and local taxes each take a 3% cut, the total of which is calculated as:
Next, we just subtract the expenses from tax and crew-member pay to determine net profit:
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