Jame's buys 100 head of cattle for $40,000. It cost 20% more than that to feed them. They each weigh 1000 pounds and sell for $2 per pound. How much profit did he make? Give me reasons, before answering the question
It cost .2 * 40000 = $8000 more to feed than buy them. So the total cost to feed them was 40000 + 8000 = $48,000. So in total it cost 48000 + 40000 = $88,000. Each cow sells for 2 * 1000 = $2000. So he sells them for 2000 * 100 = $200,000. So he makes a profit of 200,000 - 88,000 = $112,000. So the final answer is 112000.