James had $80 000 in the bank. He used some of this cash to buy a new car for $67 000 on 1 January. James subsequently modified the car and sold it for $78 000 on 1 March. The modifications cost James $9000, and he paid a total of $250 to advertise the car for sale. James made a profit on the sale of the car of:
A) nil.
B) $1750.
C) $2000
D) $11 000

Question

Quizplus · Accepted Answer

The Answer of James had $80 000 in the bank. He used some of this cash to buy a new car for $67 000 on 1 January. James subsequently modified the car and sold it for $78 000 on 1 March. The modifications cost James $9000, and he paid a total of $250 to advertise the car for sale. James made a profit on the sale of the car of:
A) nil.
B) $1750.
C) $2000
D) $11 000

James Had $80 000 in the Bank