Answer:
25%
Step-by-step explanation:
Given:
The price of the studio apartment = 240,000
Down payment = 60,000
We need to find the percentage of down payment.
Solution:
Using percentage formula.
[tex]Percentage = (\frac{Value}{Total\ value})\times 100[/tex]
Here value = Down payment
Total value = Price of the apartment
Now we substitute Down payment and Price of the apartment in above formula.
[tex]Percentage = (\frac{60000}{240000})\times 100[/tex]
[tex]Percentage = \frac{6\times 100}{24}[/tex]
[tex]Percentage = \frac{600}{24}[/tex]
[tex]Percentage = 25\%[/tex]
Therefore, Down payment is 25% of the purchase price.
