Question

A family buys a studio apartment for $240,000. They pay a down payment of $60,000.

a. Their down payment is what percent of the purchase price?
b. What percent of the purchase price would a $96,000 down payment be?

Answer 1

Part A: 25%
Part B: 40%

Explanation:

Given the following questions:

$240000 for a studio apartment
$60000 as a down payment.

In order to find the answer, we use the formula to calculate the percentage for the total cost of the studio apartment and the down payment.

Part A:

`(c* n)/(100)`

`(25*240000)/(100) =25*240000=60000`

`=60000`

Part B:

`(c* n)/(100)`

`(40*240000)/(100) =40*240000=9600000/100=96000`

`=96000`

The percent of a down payment of $60,000 for a $240,000 studio apartment is "25%." While the percent of a $96,000 dollar down payment for a $240,000 studio apartment is "40%."

Hope this helps.