Question

If a restaurant's gross receipts for one week total $35,090, but only 23 percent of that amount is profit, how much are expenses?

Answer 1

Out of a total of 100%, 23% is profit. Thus,

100 - 23 = 77% is cost (expenses).

We need to find 77% of 35,090 to find the amount of expenses.

First, let's convert 77% to decimal:

77/100 = 0.77

Now, let's multiply with the gross receipts to get our answer:

35,090 * 0.77 = $27,019.30

Correct Answer

$27,019.30