To find your net profit for winning your bet in the race, you first need to understand how the payoff odds work. The odds are given as 12:1, which means that for every $1 bet, you would win $12 if you are successful.
Since you bet $7, your winnings would be calculated as follows:
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Calculate total payout: \[ \text{Payout} = \text{Bet} \times \text{Odds} \] \[ \text{Payout} = 7 \times 12 = 84 \]
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Calculate net profit: Net profit is calculated as the total payout minus the amount you bet: \[ \text{Net Profit} = \text{Payout} - \text{Bet} \] \[ \text{Net Profit} = 84 - 7 = 77 \]
However, it appears this does not match any of your options. The net profit should reflect the winnings minus the original stake. If you won $84 and subtracted your initial $7 bet, you get $77.
If you check the answer choices, something might be off with the options, but based on the calculation, your net profit from winning this bet at those odds should be $77.
Please verify the options provided or check to see if there was a misunderstanding with how the winnings are listed in relation to net profit. If the options you provided were to calculate total winnings, then your return would indeed be $84, but the request was for net profit.
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