Mary's house cost \$500, 000 in the year 2010.
In 2020 she sold it for \$900, 000.
Was the change in price an increase or decrease?
Part B
What was the percent of change in the price of the house?
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janabchrisamalaptop 6 months ago
Светило науки - 16 ответа - 0 помощи

Part A: It was an increase.

Part B:80%

Step-by-step explanation:

First, state the info of the problem

Cost Price(CP):\$500,000

Selling Price(SP):\$900,000

Part A Solution

The SP is higher than the CP so there is a price increase

\$900,000>\$500,000

Part B Solution

Find price change

Price change equals SP-CP

\$900,000-\$500,000 equal to \$400,000

State CP percent so it will later help in finding percent of price change

CP percent:100%(basic percent for the original cost of item,CP percent is basically 100%)

Cross multiply by comparing amount with percent

So if \$500,000 equals 100%

∴\$400,000 equals ?(can be represented by variable "x")

Cross-multiplying, we get

\$500,000x equals 100%×\$400,000(dividing both sides by \$500,000)

x equals (400/5)% which further equals 80%

∴The percent of change for the house price was 80%

To confirm

If there was a price increase(Profit),the SP equals CP plus P

SP equals 100% plus 80%:180% ∴SP equals 180%

If 100% equals \$500,000

∴180% equals x which is \$900,000 after cross-multiplying.

Hope all confusion is now cleared.