Question

Bryce pays $240 000 for a property and sells it for 15% less.

Calculate the loss.

$______

Answer 1

$36,000

Explanation:

Given:

Bryce pays $240,000 for a property, then sells it for 15% less of what he bought is for.

To find:

15% of $240,000 to find the total loss.

__

steps

Step 1: Our output value is 240000.

Step 2: We represent the unknown value with x.

Step 3: From step 1 above,
`$240000=100\%$`

Step 4: Similarly,
`$x=15\%$`

Step 5: This results in a pair of simple equations:

`$240000=100\%(1)$.`

`$x=15\%(2)$.`

Step 6: By dividing equation 1 by equation 2 and noting that both the RHS (right hand side) of both

equations have the same unit (%); we have

`$(240000)/(x)=(100\%)/(15\%)$`

Step 7: Again, the reciprocal of both sides gives

`$(x)/(240000)=(15)/(100)$`

`$\Rightarrow x=36000$`

Therefore,
`$15\%$ of $240000$ is $36000$`

So if he lost 15% of $240,000, he lost $36,000.

So now we subtract.

240,000 - 36,000

= $204,000

Hence, the total loss of the property was $36,000