On Saturdays you hire a stall at the local flea-market for R50.you are buying juice for R1,50 each and selling them for R2,50 each.last Saturday it was cold and you only managed to sell 40.i made a profit or loss of amount
To calculate the profit or loss made, we need to determine the total expense and total revenue.
Total Expense:
Cost of renting stall: R50
Cost of buying juice: R1.50 x 40 = R60
Total Revenue:
Selling price of juice: R2.50 x 40 = R100
Profit/Loss:
Total Revenue - Total Expense = R100 - (R50 + R60) = R100 - R110 = -R10
Therefore, you made a loss of R10.