Tommy's office organizes company trips from its employees. The company allows employees to register for the trip for a

[Vincen]

Tommy's office organizes company trips from its employees. The company allows employees to register for the trip for a down payment of \(\$63,\) a \(10\%\) markup over the amount the company spends per person on this trip. If employees change their minds, they can cancel their registration but will receive only a \(90\%\) refund on their payment. If \(100\) people registered for the trip but \(50\) canceled, and if the company does not spend money on canceled registrations, then what was Tommy's office's approximate profit or loss on the trip as a percentage of their total expenses?

A. \(15\%\) loss
B. \(20\%\) loss
C. \(10\%\) profit
D. \(15\%\) profit
E. \(20\%\) profit

Answer: E

Source: Economist