# Cost, Profit

#### newuser189

Your firm sells a product for 12.00 each and the cost of the product is 6.00 each. You sell 86,000 annually. What is the total annual cost of the product? What is the Annual Profit?

Cost 172000 and Profit is 860000.

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#### DenisB

NO!

If you buy a ball for 1.00 and sell it for 2.00, what is your profit?

#### newuser189

Is the Cost and Profit both 516000?

#### DenisB

Yes...may we know what grade you're in? Makes it easier to help....

#### zoeyw

Interestingly my mum used to get us to do simple cost and profit problems orally. Nothing complicated and always something fun. She also used to get us to find the cost of something which had more that one part. It helped us understand costing in real life. Occasionally we put together weird things with Lego using our imagination for both objects and pricing. This problem brought back some fun times!

bethjohnson

#### bethjohnson

Your mom is amazing) This is really interesting method for explaining math. I will use it for my child.

#### Monoxdifly

Interestingly my mum used to get us to do simple cost and profit problems orally. Nothing complicated and always something fun. She also used to get us to find the cost of something which had more that one part. It helped us understand costing in real life. Occasionally we put together weird things with Lego using our imagination for both objects and pricing. This problem brought back some fun times!
Once I was tutoring a 7th grader who hasn't grasped the concept of simple addition yet. I asked him "You know money?" "Yes" "Then if how many is 500 IDR + 200 IDR?" "700" "That means, 5 + 2 equals...?" "7"
Yes, I had to resort to that sort of things.

bethjohnson

#### bethjohnson

Interestingly my mum used to get us to do simple cost and profit problems orally. Nothing complicated and always something fun. She also used to get us to find the cost of something which had more that one part. It helped us understand costing in real life. Occasionally we put together weird things with Lego using our imagination for both objects and pricing. This problem brought back some fun times!