Question

Calder's Construction Company has built a home in a new subdivision which was sold 6 months after it was built, for $48,500. This amount reflected a loss of 3%. Knowing this, what was the original asking price on the home?
1 $48,500
2 $50,000
3 $53,000
4 $51,500

Answer 1

Answer:

Option 2

Step-by-step explanation:

Given that Calder's Construction Company has built a home in a new subdivision which was sold 6 months after it was built, for $48,500. This amount reflected a loss of 3%.

Let the original price =100

Loss                            =    3

Sale price                   =   97

Hence we get

if sales price is 97, original price = 100

So if sales price is 48500, original price = $\frac{100(48500)}{97} =50000$

Answer is 50000 dollars

Option 2