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Speculator paid $25,000 net each for two 150 front-foot lots. Speculator split them into 3 lots with equal front footage. Speculator sold the 3 lots for $300 per front foot. What was Speculator's percentage of profit?

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kaympoey08

Answer:

The answer is 80%

Explanation:

Profit = revenue - cost of sales

         =[(50* 300) per 50 front-foot lot * 3 lots ] - 25000   *100

         =(45000-25000)/25000    *100

         =80%

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