A farm was offered for sale at 320% above cost. The farm was finally sold for $770
Question:
A farm was offered for sale at 320% above cost. The farm was finally sold for $770 000, at 8 1/3% below the asking price.
(a) What was the original cost of the farm to the owner?
(b) How much gain did the owner realize?
(c) What percent of the original cost does this gain represent?
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a The original cost of the farm to the owner was 185000 b The o...View the full answer
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Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
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