The amount that ruby paid for the home is $120000
In a loan, a certain quantity of money is given to another person in exchange for the value or main amount being repaid at a later date.
Given that loan of $90000 for new home obtained by ruby
The loan was 75% of the purchase price
We need to calculate the amount that ruby paid for loan
Let the amount of the purchase price of house be x
The loan is 75% of purchase price
Therefore.
90000= 75% * x
Therefore the x = 90000/75%
Here 75% = 0.75
Therefore ,
x=90000/0.75
x = $120000
Hence the amount of the house paid by the ruby is $120,0000
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