Question

Family paid $24,000 as a down payment for a home if this represents 12% of the price of the home, find the price of the home.

Answer 1

200,000

Explanation:

24,000 / 0.12= 200,000

Answer 2

$200,000

Explanation:

Down payment = $24,000

Given that $24,000 is 12% of the price.

12% = $24000

1% = 24000 ÷ 12 = $2000

Price of the house

= 2000 x 100%

= $200,000