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Jim and Jane purchased their house a year ago and have been transferred out of town. They paid $275,000 for the property and ended up after expenses with only $225,000. Their percentage of loss on the
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Jim and Jane purchased their house a year ago and have been transferred out of town. They paid $275,000 for the property and ended up after expenses with only $225,000. Their percentage of loss on the sale was:

User Tom Baxter
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1 Answer

5 votes

Answer:

18%

Step-by-step explanation:

Original cost: $275,000

Selling price: $225,000

Loss: $50,000

50,000/275,000=0.18

0.18x100=18%

:)

User Tommy Lacroix
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