Real Estate Math
An Alaska investor paid $175,000 for a lot and sells it for $210,000. What was the percentage profit?
A16.7%
B20%✓ Correct
C25%
D37.5%
Explanation
Percentage profit = (Sale price − Cost) ÷ Cost × 100. ($210,000 − $175,000) ÷ $175,000 × 100 = $35,000 ÷ $175,000 × 100 = 20%.
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