Question

Bill’s Meat Market did a total business of $59,000 in April. Cost of the meat was $37,500. Expenses amounted to $11,200. In April, what percent of Bill’s Meat Market's gross income was profit?

Answer 1

Meat + expenses=$48700.  Profit=59000-48700=$10300. Percentage profit=10300/59000*100=17.46%.