A contractor receives $475,500 for the construction of a building. Total expenses amounted to $405,600. What is the percent of profit from the $475,500 round to one decimal place?

Question

A contractor receives $475,500 for the construction of a building. Total expenses amounted to $405,600. What is the percent of profit from the $475,500 round to one decimal place?

Answer 1

Profit = Revenue - Expenses

Profit = $475,500 - $405,600
Profit = $69,900

Percent profit = (Profit / Revenue) x 100
Percent profit = ($69,900 / $475,500) x 100
Percent profit = 0.147 x 100
Percent profit = 14.7%

Therefore, the percent profit from the $475,500 revenue is 14.7%.