Real Estate Math
A property was purchased for $180,000 and sold 3 years later for $216,000. What was the percentage gain?
A16.7%
B18%
C20%✓ Correct
D22%
Explanation
Gain = ($216,000 − $180,000) ÷ $180,000 × 100 = $36,000 ÷ $180,000 × 100 = 20%. Using the values given ($180,000, $216,000), apply the appropriate formula..
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