Question

Investors buy a studio apartment for $240,000.Of this amount, they have a down payment of $48,000. Their down payment is what percent of the purchase price?what percent of the purchase price would a $96,000down payment be?

Answer 1

The answers are 20% and 40%

Explanation:

Cost price is $240,000

The percentage of $48000 will be

(48000/240000) × 100

= 20%

The percentage of $96000 will be

(96000/240000) ×100

= 40%