Madison bought an empty lot for $2,000 and later sold it for a 25% profit. How much did Madison sell the lot for?
$500
$1,500
$2,500
$3,000
$50,000
To find the amount Madison sold the lot for, we need to calculate the 25% profit on the purchase price of $2,000.
25% of $2,000 is (25/100) * $2,000 = $500.
Adding the profit to the purchase price, the total selling price is $2,500.
Therefore, Madison sold the lot for $2,500.