Just need to find out what number is the selling price, overhead, and cost. Really bad at figuring out word problems. (╥﹏╥)

Ryan Hayes bought a stereo for $75. He spent $24.75 repairing the cabinet. He sold the stereo for $150. Find his net profit.

Question

Just need to find out what number is the selling price, overhead, and cost. Really bad at figuring out word problems. (╥﹏╥)

Ryan Hayes bought a stereo for $75. He spent $24.75 repairing the cabinet. He sold the stereo for $150. Find his net profit.

matt101 · Answer

To find the net profit, add up all the losses and gains. HOWEVER, keep in mind that losses are negative, gains are positive.

In this case, Ryan buys a stereo at a COST of $75 - this is a loss. He then SPENT $24.75 on repairs - this is another loss. Then he sells the stereo and MAKES $150 - this is a gain. So to find the net:

$$P=(-75)+(-24.75)+(+150)=50.25$$
In this case, the net profit is $50.25!