Profit on a SaleDate: Fri, 25 Nov 1994 20:22:40 -1000 (HST) From: B Piianaia Subject: help?! Dear Dr. Math, I'm in seventh grade, at Kailua Intermediate School, in Hawaii. I have a math problem that confuses me a lot. Please help me out. An investor bought 12 acres of land for $70,000. She later subdivided the land into 22 lots that she sold for $4500 apiece. What was her profit on the sale? Please respond as soon as possible. Thanks a lot. -Jeanette Huber age 12 Date: Sat, 26 Nov 1994 15:05:21 +0000 From: Elizabeth Weber Subject: Re: help?! Hi Jeanette! The investor's profit on the sale is the price she sold the land for, minus the price she bought it for in the first place. She sold the land in 22 pieces at a price of $4500 per piece. So, she sold the land for a total of 22 x 4500 = $99,000. She bought the land for $70,000. Her profit, then, is $99,000 - $70,000 = $29,000. I hope this helps. Thanks for writing to Dr. Math! -Elizabeth Weber, math doctor on duty |
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