Question

Monica bought a real estate property for $3,00,000. She built a boundary wall around
it and sold the property for $6,00,000. She made a profit of 20%. How much did she
spend as overheads?​

Answer 1

Answer:

Spent as overheads $ 2, 00, 000

Step-by-step explanation:

Let the amount spent on wall be X

Now it is given that she gains 20% profit when she sells property for 6,00,000

Therefore

(100 + 20)/100* ( 3,00,000 + X) = 6,00,000

120/ 100 * ( 3,00,000 + X) = 6,00,000

( 3,00,000 + X) = 500000

X = 500000 - 300000

X = 200000

She spent $ 2,00, 000 on building a wall

Answer 2

Answer:

Monica bought a property in $300000

let the cost of built a boundary wall around it it is $ X

Then,

profit=$(x+300000)×20/100

$(x/5+300000/5)

$(x/5+60000)

profit=selling price of the property-(purchase price of property+cost of built a boundary wall around the property)

x/5+60000=600000-(x+300000)

x/5+60000=600000-x-300000

x/5+60000=300000-x

x/5+x=300000-60000

6x/5=240000

x=240000×5/6

x=200000

hence the cost of built up boundary wall around the property is $200000 .