Steve Thomas wrote:
"Joe Egginton" wrote in message
...
Dave Liquorice wrote:
On Mon, 24 Dec 2007 10:30:31 -0800 (PST), Jack )
wrote:

1960's
A logger cuts and sells a truckload of lumber for $100. His cost of
production is four-fifths of that amount, and the taxes on the sale
are 7%. What is his net profit?"
Yeah I understand that, can't be arsed to actually work it out though.

$
Sales: 100.00
Costs: 80.00
-----
Gross Profit: 20.00
Tax on GP : 7.00
-----
Net Profit : 13.00
=====

Accounts on Christmas Day, who said I was scrooge?

Joe Egginton
Wolverhampton
175m asl

Joe,

you either mean tax on GP: 1.40 or tax on gross sales: 7.00

I suspect you meant the latter, which is what I think the question is
asking.

Steve


Oops ! I was thinking of the tax on GP at first then I plumped for the
gross sales.

--
Joe Egginton
Wolverhampton
175m asl