Question

Ella bought a 2 bedroom unit 12 years ago for $95 000 and recently sold it for $280 000 (after deducting selling costs).

a) Find the profit.
b) Find the profit as a percentage of the buying price.
c) Find the profit as a percentage of the selling price.
d) Which percentage profit sounds better as far as Ella is concerned?

pls explain, thanks!!!!​

Answer 1

C.P. = $95000

S.P. = $280000

a. Profit

= S.P. - C.P.

= $280000 - $95000

= $185000

b. Let the profit% of C.P. be x.

(x/100) × $95000 = $185000

=> x/100 = $185000/$95000

=> x/100 = 37/19

=> x = (37/19) × 100

=> x = 3700/19

=> x = 194 14/19

So, profit percent of buying price is 194 14/19%.

c. Let the profit% of S.P. be x.

(x/100) × $280000 = $185000

=> x/100 = $185000/$280000

=> x/100 = 37/56

=> x = (37/56) × 100

=> x = 3700/56

=> x = 925/14

=> x = 16 1/14

So, profit percent of selling price is 16 1/14%.

d. Buying price percentage profit sounds better as far as Ella is concerned.