Question

A family buys a studio apartment for $150,000. They pay a down payment of $30,000. Their down payment is what percent of the purchase price?

Answer 1

Their down payment is 20% of the purchase price.

Explanation:

The down payment is $30,000 and the purchase price is $150,000.

To find the percentage, we can divide the down payment by the purchase price and multiply by 100:

($30,000 / $150,000) x 100% = 20%

Therefore, the down payment is 20% of the purchase price.