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4 January, 23:16

Speculator paid $25,000 net each for two 150 front-foot lots. Speculator split them into 3 lots with equal front footage. Speculator sold the 3 lots for $300 per front foot. What was Speculator's percentage of profit?

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  1. 5 January, 02:51
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    The answer is 80%

    Explanation:

    Profit = revenue - cost of sales

    =[ (50 * 300) per 50 front-foot lot * 3 lots ] - 25000 * 100

    = (45000-25000) / 25000 * 100

    =80%
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