Real Estate Math
An investor purchased a property for $400,000 and sold it for $460,000. What is the percentage profit?
A12%
B15%✓ Correct
C13%
D10%
Explanation
Profit = $460,000 − $400,000 = $60,000. Percentage = $60,000 ÷ $400,000 = 15%. Using the values given ($400,000, $460,000), apply the appropriate formula.. The correct answer is 15%.. This is a common calculation on the Alabama real estate exam.
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