Real Estate Math
A Connecticut property was listed for $540,000. It sold for $516,600 after a price reduction. What percentage was the price reduced?
A3.5%
B4.0%
C4.3%✓ Correct
D5.0%
Explanation
Reduction = $540,000 − $516,600 = $23,400. Percentage = $23,400 ÷ $540,000 = 0.0433 ≈ 4.3%. Using the values given ($540,000, $516,600), apply the appropriate formula.. The correct answer is 4.3%.. This is a common calculation on the Connecticut real estate exam.
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