A family buys a studio apartment for $ 180 comma 000. They pay a down payment of $ 27 comma 000.

Question

a. Their down payment is what percent of the purchase​ price?
b. What percent of the purchase price would anothing ​$63 comma 000 down payment​ be?
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Part 1
a. The down payment is
  
enter your response here​% of the purchase price.
​(Type a whole​ number.)

Answer 1

To find the percentage of the down payment relative to the purchase price, you can use the formula:

\[ \text{Percentage} = \left( \frac{\text{Down Payment}}{\text{Purchase Price}} \right) \times 100 \]

Given:

• Down Payment = $27,000
• Purchase Price = $180,000

Part a:

\[ \text{Percentage} = \left( \frac{27,000}{180,000} \right) \times 100 \]

Calculating this:

1. Divide 27,000 by 180,000:

\[ \frac{27,000}{180,000} = 0.15 \]

2. Multiply by 100:

\[ 0.15 \times 100 = 15 \]

So, the down payment is 15% of the purchase price.

Part 2:

To find out what percent a $63,000 down payment would be, we can use the same formula:

Given:

• New Down Payment = $63,000

Part b:

\[ \text{Percentage} = \left( \frac{63,000}{180,000} \right) \times 100 \]

Calculating this:

1. Divide 63,000 by 180,000:

\[ \frac{63,000}{180,000} = 0.35 \]

2. Multiply by 100:

\[ 0.35 \times 100 = 35 \]

So, a $63,000 down payment would be 35% of the purchase price.

In summary:

• Part a: The down payment is 15% of the purchase price.
• Part b: A $63,000 down payment would be 35% of the purchase price.