Real Estate MathIntermediateDelaware Exam
A Delaware home was purchased for $200,000 and sold 4 years later for $248,000. What was the percentage gain?
A20%
B24%Correct
C22%
D26%
Why 24% Is Correct
Answer B: 24%
Percentage gain = (Gain ÷ Original Price) × 100 = ($48,000 ÷ $200,000) × 100 = 24%. Using the values given ($200,000, $248,000), apply the appropriate formula..
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
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