Question

Investors buy a studio apartment for $150,000. Of this amount, they have a down payment of

$45,000. Their down payment is what percent of the purchase price? What percent of the purchase
price would a $60,000 down payment be?

Answer 1

30% and 40%

Explanation:

given the following:

purchase price = $150,000

down payment = $45,000

down payment as a percentage of purchase price

=( 45,000/150,000) x 100%

= 30%

if the down payment is now $60,000, then the down payment as a percentage of purchase price will now be,

=( 60,000/150,000) x 100%

= 40%