danny sells skateboards. one skateboard sells for $55, and the cost to produce a skateboard is $35. what is…

danny sells skateboards. one skateboard sells for $55, and the cost to produce a skateboard is $35. what is dannys return on investment (roi)?

danny sells skateboards. one skateboard sells for $55, and the cost to produce a skateboard is $35. what is dannys return on investment (roi)?

Answer

Explanation:

Step1: Calculate profit

Profit = Selling price - Cost price. So, profit = $55 - 35=$20$.

Step2: Calculate ROI

ROI formula is $\text{ROI}=\frac{\text{Profit}}{\text{Cost price}}\times 100%$. Substitute profit = 20 and cost price = 35 into the formula: $\text{ROI}=\frac{20}{35}\times 100%=\frac{2000}{35}% \approx 57.14% \approx 57%$.

Answer:

57%