Real Estate Math
An Alaska property sold for $315,000, which was 5% more than the original listing price. What was the original listing price?
A$295,000
B$297,500
C$300,000✓ Correct
D$302,500
Explanation
If the sale price was 105% of the listing price, then: Listing price = $315,000 ÷ 1.05 = $300,000. To solve this, multiply the relevant values: $315,000, at 5%.. The correct answer is $300,000.. This is a common calculation on the Alaska real estate exam.
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