Question

Mr. Johnson bought a desk for $84 and

sold it for $130. His overhead was 20%
of the cost of the desk. What was his net
profit?​

Answer 1

$29.2

Explanation:

Step 1

Buying price=$84

Selling price=$130

Gross profit=Selling price-Buying price

Gross profit=$130-$84=$46

Step 2

Overhead =20% of buying price

Overhead=\frac {20}{100}*84=$16.8

Net profit=Gross profit-Overhead

Net profit=$46-$16.8=$29.2

Therefore, Mr. Johnson's net profit on the desk is $29.2

Ans=$29.2