Real Estate Math
A property was purchased for $380,000 and later sold for $475,000. What was the percentage appreciation?
A20%
B25%✓ Correct
C80%
D95,000%
Explanation
Appreciation = (Sale Price – Purchase Price) ÷ Purchase Price = ($475,000 – $380,000) ÷ $380,000 = $95,000 ÷ $380,000 = 0.25 = 25%.
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