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29 November, 12:15

You bet $7 on a local race being held for charity. the payoff odds given by the charity event are 12:1. find your net profit for winning your bet in the race

$84

$91

$80

$77

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  1. 29 November, 23:08
    0
    12:1 means for every dollar you bet you will win 12

    so 7 x 12 = 84

    you would win $84, you bet 7 so net profit would be 84-7 = $77

    Net profit is $77
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