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3 years ago

Betty made a 20% profit on a residential lot she sold for $30,000. What did she pay for the property

Business

1 answer:

Ludmilka [50]3 years ago

3 0

Answer: $25000

Explanation:

From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.

Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.

120% × x = $30000

1.2x = $30000

x = $30000/1.2

x = $25000

Therefore, the amount paid for the property is $25000

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