Question

Investors buy a studio apartment for $200,000. Of this​ amount, they have a down payment of $30,000. Their down payment is what percent of the purchase​ price? What percent of the purchase price would an ​$80,000 down payment​ be?

Answer 1

$30,000 down payment is 15% of purchase price

$80,000 down payment would be 40% of purchase price

Explanation:

x = percent of purchase price

30,000 = 200,000x

3/20 = x

3/20 = 15/100 = 15%

80,000 = 200,000x

8/20 = x

8/20 = 40/100 = 40%