Real Estate Math
A property sold for $450,000, which was 125% of the original purchase price. What was the original purchase price?
A$340,000
B$360,000✓ Correct
C$375,000
D$380,000
Explanation
Original price × 1.25 = $450,000. Original price = $450,000 ÷ 1.25 = $360,000. To solve this, multiply the relevant values: $450,000, at 125%.. The correct answer is $360,000.. This is a common calculation on the Delaware real estate exam.
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