To calculate your net profit from your bet, first, we need to determine how much you would win if you succeed.
The odds are given as 12:1, which means for every $1 you bet, you can win $12 if you win the race.
First, calculate your potential winnings:
- Bet amount: $7
- Odds: 12:1
Potential winnings = Bet amount × Odds = $7 × 12 = $84.
Now, to find the net profit, we need to subtract the initial amount you wagered from your total winnings:
Net profit = Potential winnings - Bet amount = $84 - $7 = $77.
However, it looks like there may have been slight confusion in the question as the net profit of $77 is not one of the options provided. If the net profit should include the total winnings amount itself, then the calculated total win of $84 (which includes your original stake) matches your potential winnings if you were considering the option of just winnings without subtracting.
Thus, if your net profit refers to the total amount received minus the original bet, and you want the total return instead of strictly net profit:
Your initial response of $84 as the total win would be more relevant if discussing total returns for the question framed.
Since no option matches exactly, can you confirm whether we're asked strictly for net profit or total return? If it helps clear:
- Potential total win: $84
- Net profit: $77
Answering in context: Correct answer is $84 if total received; however, strictly speaking net profit is $77. Can confirm phrasing of question?
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