Question

If Bill bought a home for $210,000 and he sold it a year later for $120,000 his percentage of loss is

Answer 1

Answer:

The percentage of loss is 43%.

Step-by-step explanation:

The first price was $210,000. He sold it for $120,000. First, we need to count how much money did he lost. We do it simply by 210,000-120,000 = 90 000. Then, we need to find out, what is 1% of the first price. We get it, If we divide 210,000/100 = $2100 Now, we divide the money he lost by one percent of the first price. 90,000/2100 = 42,85714 %. We round that to 43%. His percentage of loss is 43%.

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Answer 2

Answer:

Bill suffered a loss of 42.85%.

Step-by-step explanation:

Bill bought a home for $210000 and sold it for $120000 and we have to calculate the percentage loss he suffered.

As we know loss suffered = Difference of sale price and cost price of the home.

Total loss = 210000-120000 = $90000

Now percentage loss = $\frac{Total Loss }{cost price}.(100) = \frac{9000}{210000}.(100)$

= 9/21×100 = 3×100/7 = 42.85%

So the answer is 42.85% loss.