What is the Percentage Profit on a House Bought for $500 and Sold for $700?

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Homework Help Overview

The discussion revolves around calculating the percentage profit from a house purchase and sale, specifically a house bought for $500 and sold for $700.

Discussion Character

  • Conceptual clarification, Assumption checking

Approaches and Questions Raised

  • Participants discuss the calculation of profit and its percentage, with one participant seeking verification of their calculation. Others clarify terminology and the focus of the question.

Discussion Status

The discussion includes attempts to clarify the terminology used in the problem, with some participants confirming the calculation of profit and its percentage. There is no explicit consensus on the necessity of the percentage calculation, but guidance on terminology has been provided.

Contextual Notes

Participants note the importance of using the correct term "profit" instead of "prophet," indicating a focus on precise language in the context of the problem.

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Homework Statement
What is the profit?
Relevant Equations
What is the profit?
The house was bought for $500 and sold for $700(700-500=200)
200/500*100%=40%,is the solution right verify please.
Thanks,help if incorrect.
 
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The right word is "profit". Prophet is something religious and this we don't discuss on this forum ;).

You can just say the profit is 200$. The question doesn't ask for a percentage. But the percentage is correct if you want it as a percentage.
 
Sorry it's profit
 
Math_QED said:
The right word is "profit".
Fixed now.
 

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