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alina1380 [7]
4 years ago
3

A developer purchased two 180-front foot lots for $33,500 net each and divided them into three 120-foot lots. The developer sold

the lots for $250 per front foot. What is the developer's percentage of profit (rounded to nearest whole percent)? A)
Business
1 answer:
andreyandreev [35.5K]4 years ago
5 0

Answer: Profit Percentage = 25.55%

Explanation:

Given that,

Cost of two 180-front foot lots = $33500 × 2 = $67000 ⇒ Total cost

Total revenue = total front foot lots × selling price per front foot

= 360 × 250

= $90000

Net income = Revenue - cost

= $90000 - 67000

= $23000

Profit Percentage = \frac{Net\ Income}{Revenue} \times 100

= \frac{23000}{90000} \times 100

= 25.55%

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