Question 891955: when a house purchased by Jack is sold to Jill, Jack makes a profit of 80%. Jill later sells the house to Samantha and this time Jill makes a profit of 140%. if Samantha paid $777600 for the house how much did jill and jack pay for it when they bought it?
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! x = cost to jack
jack sells it at an 80% profit, so jack receives x + .8*x = 1.8*x
cost to jill is 1.8*x
jill sells it at a 140% profit, so jill receives 1.8*x + 1.4*1.8*x = 1.8*x + 2.52*x = 4.32*x
cost to samantha is 4.32*x
samantha paid 777,600.
777,600 = 4.32*x
divide 777,600 by 4.32 and you get x = 180,000
the cost to jack was 180,000
he sold it for an 80% profit, so he sold it for 180,000 + .8*180,000 = 324,000
the cost to jill is 324,000
jill sold it for a 140% profit, so jill sold it for 324,000 + 1.4*324,000 = 777,600
numbers check out so the solution is good.
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