Answer:
The man made a profit of 63.333% from selling the machine.
Explanation:
To find the percentage profit, you will need to first calculate the total profit the man made from selling the machine. To do this, you need to subtract the cost of importing the machine and the other costs associated with clearing and shipping it from the selling price.
Here's the calculation:
Total profit = Selling price - (Import cost + Clearing cost + Shipping cost)Substituting the values you provided, we get:Total profit = 1,080,000 - (600,000 + 60,000 + 40,000)
Total profit = 1,080,000 - 700,000Total profit = 380,000
Next, we need to divide the total profit by the import cost, and multiply the result by 100 to express the profit as a percentage. Here's the calculation:
Percentage profit = (Total profit / Import cost) * 100Substituting the values we calculated above, we get:Percentage profit = (380,000 / 600,000) * 100Percentage profit = 63.333%
Therefore, the man made a profit of 63.333% from selling the machine.