Question

A family buys an apartment for 200000. They pay a down payment of 20000. Their down payment is what percent of the purchase price

Answer 1

the down payment of 20000 is 10% of the purchase price of 200000.

Explanation:

To calculate the percentage of the down payment to the purchase price, you can use the following formula:

(down payment / purchase price) x 100

So in this case:

(20000 / 200000) x 100 = 0.1 x 100 = 10

Therefore, the down payment of 20000 is 10% of the purchase price of 200000.