Madison bought an empty lot for $2,000 and later sold it for a 25% profit. How much did Madison sell the lot for? A) $500 B) $1,

Question

leonid [27]

3 years ago

12

Madison bought an empty lot for $2,000 and later sold it for a 25% profit. How much did Madison sell the lot for? A) $500 B) $1,

500 C) $2,500 D) $3,000

Mathematics

2 answers:

PSYCHO15rus [73] · Answer 1 · 2022-04-03T19:46:59+03:00

PSYCHO15rus [73]3 years ago

7 0

Answer:

c

Step-by-step explanation:

your welcome

RoseWind [281] · Answer 2 · 2022-04-03T17:53:03+03:00

Answer:

C) $2,500

Step-by-step explanation:

Madison's profit is 25% of the $2000 paid, so is ...

0.25 × $2000 = $500

That means the lot was sold for ...

$2000 + 500 = $2500

_____

Profit can also be expressed as a percentage of the <em>selling price</em>. If that were the case here, Madison's initial cost would be 0.75 of the $2666.67 selling price, and the 25% profit would be $666.67. Since that is not among the answer choices, we presume our assumption is correct that Madison's profit is measured as a percentage of <em>cost</em>.