Question

If you buy something for $1,000, receive $10 in income, and sell it for $1,100 a year later, how much have you made?

Options:
a. $110
b. $10
c. $120
d. $1,010

Answer 1

If you buy something for $1,000, receive $10 in income, and sell it for $1,100 a year later, you have made a total of $110.

Step-by-step explanation:

If you buy something for $1,000 and sell it for $1,100 a year later, you have made a profit of $100. However, you also received $10 in income, so your total earnings would be $110. Therefore, the correct answer is option c. $120.