Real Estate Math

A Florida property was purchased for $150,000 five years ago and just sold for $195,000. What is the percentage gain on the original investment?

A23.1%

B30%✓ Correct

C26.7%

D76.9%

Explanation

Percentage gain = (Sale Price − Purchase Price) ÷ Purchase Price × 100. = ($195,000 − $150,000) ÷ $150,000 × 100 = $45,000 ÷ $150,000 × 100 = 30%.

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