Question

Investors buy a studio apartment for $180,000. Of this​ amount, they have a down payment of $18,000. Their down payment is what percent of the purchase​ price? What percent of the purchase price would a ​$9,000 down payment​ be? Their down payment is enter your response here​% of the purchase price. ​(Type a whole​ number.) A ​$9,000 down payment would be enter your response here​% of the purchase price. ​(Type a whole​ number.)

Answer 1

$180,000 is 10% $9,000 is 5%

Explanation:

To solve for this, you would set up a ratio and cross-multiply.

$18,000/$180,000 = x%/100%

(18,000)(100) = 180,000x

1,800,000 = 180,000x

10 = x

9,000/180,000 = x/100

900,000 = 180,000x

5 = x

OR

$18,000 ÷ 2 = $9,000

10% ÷ 2 = 5%