Question

The Washington's by a studio apartment for 240,000 they pay a down payment of 60000 their down payment is what percent of the purchase price

Answer 1

25%

Explanation:

Given:

The price of the studio apartment = 240,000

Down payment = 60,000

We need to find the percentage of down payment.

Solution:

Using percentage formula.

`Percentage = ((Value)/(Total\ value))* 100`

Here value = Down payment

Total value = Price of the apartment

Now we substitute Down payment and Price of the apartment in above formula.

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

`Percentage = (6* 100)/(24)`

`Percentage = (600)/(24)`

`Percentage = 25\%`

Therefore, Down payment is 25% of the purchase price.