Question

If total Revenue is $3000, Cost of Goods is $1500, and total Selling Expense is $500; what is the Profit for the business

Answer 1

. If total Revenue is $3000, Cost of Goods is $1500, and total Selling Expense is $500Question: what is the Profit for the business=> The total revenue is 3 000 dollarsThe expenses:=> 1 500 dollars for gold's costs=> 500 dollars for selling expenses.Now, let's add the expenses and subtract it to the total earnings=> 1 500 dollars + 500 dollars = 2 000 dollarsNow, let's subtract:=> 3 000 dollars - 2 000 dollars = 1 000 dollarsThus, his profit is 1 000 dollars

Answer 2

Let

P-------> the profit

R------> the revenue

C-----> cost of goods

O-----> operating expense

we know that

$P=R-(C+O)$

in this problem

$R=$$$3,000$

$C=$$$1,500$

$O=$$$500$

Substitute the values in the formula above to find the Profit

$P=3,000-(1,500+500)$

$P=3,000-(2,000)$

$P=1,000$

therefore

the answer is

the Profit for the business is $$1,000$