Dave bought a Ford Mustang seven years ago for RM32,000. He has decided to sell it as he now needs a pick-up truck for his new business. He received RM12,000 for it from a dealer in part exchange, which means that since the price of the Ford Mustang was more than that of the pick-up truck, Dave received RM12,000 and the pick-up truck in exchange for his Ford Mustang. 

What was his rate of return for his transaction?

Answer rating: 100% (QA)

The rate of return also known as the return on invest... View the full answer