Question

A house bought for $70000 was sold for $105000. The selling price was the fraction of the purchase price (cost)?

Answer 1

Answer:

3/2

Explanation:

To find what fraction of the buying price was the selling price, we write

$\frac{\text{selling price }}{\text{buying price }}=\frac{\ 105,000}{\ 70,000}$

which becomes

$\frac{\ 105,000\div35,000}{\ 70,000\div35,000}$$=\frac{3}{2}$

which is our answer!

Hence, the selling price is 3/2 the buying price.