Can't Do

United States
July 23, 2006 7:00pm CST
The math problem states, " Find the profit or loss and the rate of profit or loss. Round the rate to the nearest tenth of a percent." Can you give me example of how to work problem?
1 response
@Andy77 (430)
• United States
24 Jul 06
Take the amount of money earned by the business in one year and subtract all business expenses and employee expenses (salaries and so forth) for the same year. Subtract taxes paid for that year. What's left is the profit the business made or the amount of money it lost that year. To figure the rate of profit or loss, you must track the profits or losses over time. For each year, list the profit or loss. Then, for example, subtract the profit from the year 2004 from the profit of 2005. The difference is the increase in profit in whole numbers for one year. To get the percent, divide the increase in profit for that year by the total profits earned in 2004. This gives you the percentage of increase in profit for that year. Round the number, for example, let's say you got 8.374%. Round that number to the first number after the decimal point: 8.4%.