Sam’s annual gross profit is C. $62,500.
Further explanation
Sam charges each of his customers $25 per week for 52 weeks of service every year. It means that for one customer, Sam will get :
$25 × 52 = $1300 → for each of customer
Because there are 85 customers, Sam will get total income for :
85 × $1300 = $110,500
At last, we could calculate Sam's annual gross profit.
Annual Gross Profit = Total Income - Total Cost
Annual Gross Profit = $110,500 - $48,000
Annual Gross Profit = $62,500
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Answer details
Grade: High School
Subject: Mathematics
Chapter: Profit and Loss
Keywords: Profit, Loss, Annual, Gross, Labor, Supplies, Service
