Question

Seven percent is charge on a one thousand dollars for a year,how much is the bank making as profit?

Answer 1

we have a Proportion between 100 and thousand dollars and 107 and profit .

Answer 2

1) Take it at face value: I = prt, then Profit = $1000*0.07*1 = $70
2) This is a horrible question. "Profit" is not known. Interest Charged is known. This MIGHT be REVENUE, but it is very unlikely to be PROFIT.

Anyway...