Question
A real estate investor owns three properties: X, Y, and
Z. What is the total profit earned from these properties after selling them? Statements: I: Property X was purchased for $250,000 and sold for $350,000. Property Y was purchased for $300,000 and sold for $450,000. Property Z was purchased for $200,000 and sold for $280,000. II: The investor incurred selling costs amounting to 5% of the selling price for each property. III: The investor's total investment across all properties was $800,000, and the selling prices of all properties combined were $1,200,000.Solution
Statement I: Profit from Property X = $350,000 - $250,000 = $100,000. Profit from Property Y = $450,000 - $300,000 = $150,000. Profit from Property Z = $280,000 - $200,000 = $80,000. Total profit = $100,000 + $150,000 + $80,000 = $330,000. Sufficient. Statement II: This affects the profit calculations but does not provide enough data without knowing the selling prices to apply the costs accurately. Not sufficient. Statement III: This gives the total investment and selling prices but does not detail individual profits or costs, making it insufficient on its own. Not sufficient. The answer is A.
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