If Joanna sold her combined lots for $8,880 after purchasing them for $6,000 in total, what was her percent of profit?

To determine Joanna's percent of profit, start by calculating the profit she made from the sale. The profit can be found by subtracting the original purchase price from the selling price. In Joanna’s case, she sold the lots for $8,880 and purchased them for $6,000.

The profit calculation is as follows: Profit = Selling Price - Purchase Price Profit = $8,880 - $6,000 = $2,880

Next, to find the percent of profit, divide the profit by the original purchase price and then multiply by 100 to convert it into a percentage.

The formula for percent of profit is: Percent of Profit = (Profit / Purchase Price) * 100

Now, plugging in Joanna's values: Percent of Profit = ($2,880 / $6,000) * 100 = 48%

Thus, Joanna's percent of profit is 48%. This calculation directly shows how much more she earned compared to her initial investment, indicating a strong return. This understanding is essential in real estate transactions and highlights the importance of calculating profit margins clearly.