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In 2012, Meg bought a house for $400,000. In 2015, when she
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01 Feb 2020, 09:57
01 Feb 2020, 09:57
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Question Stats:
94% (01:28) correct
5% (01:00) wrong based on 18 sessions
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In 2012, Meg bought a house for $400,000. In 2015, when she was beginning to sell her house, her asking price was 40% higher than what she paid, but the buyer offered her $70,000 more than her asking price. Assuming that she accepted this offer, what percent profit did she make on the sale of this house?
Give your answer to the nearest 0.1 of a percent.
Give your answer to the nearest 0.1 of a percent.
Show: :: OA
57.5
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Joined: 10 Apr 2015
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Re: In 2012, Meg bought a house for $400,000. In 2015, when she
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02 Feb 2020, 07:00
02 Feb 2020, 07:00
2
huda wrote:
In 2012, Meg bought a house for $400,000. In 2015, when she was beginning to sell her house, her asking price was 40% higher than what she paid, but the buyer offered her $70,000 more than her asking price. Assuming that she accepted this offer, what percent profit did she make on the sale of this house?
Give your answer to the nearest 0.1 of a percent.
Give your answer to the nearest 0.1 of a percent.
Show: :: OA
57.5
The asking price was 40% higher than what she paid, but...
Meg bought the house for $400,000
So the asking price = $400,000 + (40% of $400,000)
= $400,000 + $160,000
= $560,000
...the buyer offered her $70,000 more than her asking price
So, the amount the buyer offered = $560,000 + $70,000
= $630,000
Assuming that she accepted this offer, what percent profit did she make on the sale of this house?
Profit = (100)($630,000 - $400,000)/$400,000
= (100)(230,000)/(400,000)
= (100)(23/40)
= 2300/40
= 57.5%
Answer: 57.5
Cheers,
Brent
In 2012, Meg bought a house for $400,000. In 2015, when she
[#permalink]
07 Jun 2021, 16:44
07 Jun 2021, 16:44
@hi ,can we put 57.5% in gre numeric entry question box.If not why,since there was no % sign out of the box
