Answer to Question #132109 in Accounting for Ngendahayo Samson

Question

A man bought a goat for 60. He then sold it for 70. Later, he bought that goat back for 80, and then sold it again for 90. How much profit did he make?

Answer 1

For the first part his profit was

Profit = selling price -buying price

$$70-60= 10$$

Profit was 10

The second part

Profit = selling price -buying price

$$90-80=10$$

The total profit therefore is

$$10+10=20$$