Question

Use the formula Profit=Revenue-Expenses and think of a business. Write a paragraph about how you will make revenues for your business. What your expenses will be. Then figure out your Profit.

hurry pls

Answer 1

Profit concept explanation, with example of a coaching institute.

Step-by-step explanation:

The business considered is of a coaching institute.

Its revenue is the fee earned by students studying in the institute.

The cost is fixed cost of set up, variable cost on electricity, mantainence & other miscellaneous expenses.

Profit = Total Fee received from all the students - Total cost of fixed & variable factors.

Eg : Fee per student = 1000, 10 students. Fixed cost = 2000, Variable cost = 1000

Profit = 1000 (10) - 2000 - 1000

= 10000 - 3000 = 7000