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15 Apr 2022, 11:30
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B
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Difficulty:
25%
(medium)
Question Stats:
82% (02:28) correct
18%
(02:50)
wrong
based on 28
sessions
History
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Cara and her three roommates bought an old house for $395,000 and embarked on a series of structural and cosmetic renovations. Over the course of a year, they invested $105,500 on upgrades and repairs and listed the house for sale with a local realtor. If they sold the house for $675,000 and paid the realtor a 7% sales commission, how much of the profits did each girl receive (assuming that they split the profits evenly)?
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
16 Apr 2022, 18:15
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Bunuel
Cara and her three roommates bought an old house for $395,000 and embarked on a series of structural and cosmetic renovations. Over the course of a year, they invested $105,500 on upgrades and repairs and listed the house for sale with a local realtor. If they sold the house for $675,000 and paid the realtor a 7% sales commission, how much of the profits did each girl receive (assuming that they split the profits evenly)?
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
Breaking Down the Info:
Note how the numbers are quite far apart, so we are allowed to use rough estimates to guess the answer.
They invested 500,500 in total. The revenue is \(93\% * 675,000 /approx 630,000\).
Then the total profit is roughly \(125k\), and split this among 4 people to get roughly \(31k\) for each person.
Answer: B
17 Apr 2022, 23:18
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JerryAtDreamScore
Bunuel
Cara and her three roommates bought an old house for $395,000 and embarked on a series of structural and cosmetic renovations. Over the course of a year, they invested $105,500 on upgrades and repairs and listed the house for sale with a local realtor. If they sold the house for $675,000 and paid the realtor a 7% sales commission, how much of the profits did each girl receive (assuming that they split the profits evenly)?
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
A. $20,925.00
B. $31 ,812.50
C. $63,625.00
D. $95,437.50
E. $127,250.00
Breaking Down the Info:
Note how the numbers are quite far apart, so we are allowed to use rough estimates to guess the answer.
They invested 500,500 in total. The revenue is \(93\% * 675,000 /approx 630,000\).
Then the total profit is roughly \(125k\), and split this among 4 people to get roughly \(31k\) for each person.
Answer: B
Shouldn't we take 93%(675-500500) and divide it by 4 since we are calculating the profit of each girl and not the revenue per girl
