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15 Nov 2024, 01:30
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A
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Difficulty:
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Question Stats:
78% (02:23) correct
22%
(03:04)
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Karen sold her house at a loss of 25 percent of the price that she originally paid for the house, and then bought another house at a price of 30 percent less than the price she originally paid for her first house. If she sold the first house for $225,000, what was her net gain, in dollars, for the two transactions?
(A) $15,000
(B) $25,000
(C) $60,000
(D) $75,000
(E) $90,000
(A) $15,000
(B) $25,000
(C) $60,000
(D) $75,000
(E) $90,000
15 Nov 2024, 02:04
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A is the correct answer.
1. Let the original price of the 1st house be x; Karen sold the 1st house at a 25% loss, so she sold it for:
x - 0.25x = 0.75x
We know she sold it for $225,000 so: 0.75x = 225.000. Therefore, x = 300,000. So, the original price of the 1st house was $300,000.
2. Karen bought another house at a price 30% less than the original price she paid for the 1st house, which is 300,000 - (300,000*30%) =210,000
3. Net gain = Selling price of the 1st house - Purchase price of the second house
225,000 - 210,000 =15,000.
1. Let the original price of the 1st house be x; Karen sold the 1st house at a 25% loss, so she sold it for:
x - 0.25x = 0.75x
We know she sold it for $225,000 so: 0.75x = 225.000. Therefore, x = 300,000. So, the original price of the 1st house was $300,000.
2. Karen bought another house at a price 30% less than the original price she paid for the 1st house, which is 300,000 - (300,000*30%) =210,000
3. Net gain = Selling price of the 1st house - Purchase price of the second house
225,000 - 210,000 =15,000.
15 Nov 2024, 11:17
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1st house
x-0.3x = 225000
x=3,00,000
therefore, loss = 25,000
2nd house
ended up using it for 30% less than the OG price i.e. 3,00,000 ..so, 2,10,000
therefore here a gain of 90,000
Total - net gain would be
90,000-75,000 = 15000 (a)
x-0.3x = 225000
x=3,00,000
therefore, loss = 25,000
2nd house
ended up using it for 30% less than the OG price i.e. 3,00,000 ..so, 2,10,000
therefore here a gain of 90,000
Total - net gain would be
90,000-75,000 = 15000 (a)
