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9 February, 15:11

You have listed a house for $197,800. If the house sells for the listed price, the seller will make a profit of 15%. What price did the seller pay for the house?

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  1. 9 February, 15:38
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    Answer: $168,130

    Explanation: selling price = $197,800

    Percentage profit = 15%

    Profit = 15/100 * 197,800

    Profit = 0.15 * 197,800

    Profit = $ 29,670

    But profit = selling price - cost price.

    Hence, cost price = selling price - profit

    Cost price = 197, 800 - 29,670

    Cost price = $168,130

    Cost price is the price the seller paid for the house
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