Ron Hurley purchased all the material he needed to make snow cones for $11,600 at the start of the summer.By the end of the season,he made a net profit of $6,000 by making and selling snow cones at a local amusement park.Calculate Hurley's return on investment (ROI).
A) 11.6 percent
B) 17 percent
C) 19.3 percent
D) 51.7 percent
E) 60 percent

Question

Quizplus · Accepted Answer

ROI is calculated as (Net Profit / Cost of Investment) * 100. Here, ROI = ($6,000 / $11,600) * 100 = 51.7 percent.

Ron Hurley Purchased All the Material He Needed to Make