Investors buy a studio apartment for $200,000. of this amount, they have a down payment of $60,000. their down payment is what percent of the purchase price? what percent of the purchase price would a $70,000 down payment be?

  a) 30%

  b) 35%

Step-by-step explanation:

To convert a ratio to a percentage, multiply it by 100%.

a) $60,000 down payment

  60,000/200,000 × 100% = 30%

__

b) $70,000 down payment

  70,000/200,000 × 100% = 35%

The word "percent" literally means "per hundred." The symbol "%" is shorthand for "/100" (per hundred).

You can reduce these fractions to ones that have 100 as a denominator, so can see the percentage value easily:

  60,000/200,000 = 60/200 = 30/100 = 30% . . . . . . replace /100 with %.

  70,000/200,000 = 70/200 = 35/100 = 35%

arrange the equations with like terms in columns.

analyze the coefficients of x or y.

add the equations and solve for the remaining variable.

substitute the value into either equation and solve.

check the solution.

step-by-step explanation: