Kritesh wrote:
Lisa bought a house for $70,000 and paid closing costs equal to 2 percent of the purchase price. Later Lisa sold the house for $82,000 and paid a broker's commission equal to 10 percent of the selling price. What was Lisa's profit from the two transactions?
A. $2,160
B. $2,400
C. $3,600
D. $3,800
E. $12,000
Cost Price is 102% of $ 70,000 = $ 71,400
Selling Price ( Ex Brokerage ) is 90% of $ 82,000 = $ 73,800
So, Profit is $ 2400
Thus, profit is B. $2,400
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