Real Estate Math
A home was purchased for $200,000 and sold for $245,000. What is the percentage gain?
A18.4%
B22.5%✓ Correct
C20.0%
D15.0%
Explanation
Gain = $245,000 − $200,000 = $45,000. Percentage gain = $45,000 ÷ $200,000 = 22.5%. Using the values given ($200,000, $245,000), apply the appropriate formula.. The correct answer is 22.5%.. This is a common calculation on the Indiana real estate exam.
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