Question

A home is purchased for $75,000, and remodelled spending $35,000. five years later, the home is sold for $160,000. what is the capital gain/loss, and at what percent of profit/loss?

Answer 1

31.2%

Explanation:

75000+35000 = 110000

160000 - 110000 = 50000

50000 ÷ 160000 = 0.312

0.312 x 100 = 31.2 %