Real Estate Math
A property in Indiana is sold for $240,000. If it had appreciated 20% from the original purchase price, what was the original price?
A$192,000
B$200,000✓ Correct
C$220,000
D$230,000
Explanation
If current value = original × 1.20, then original = $240,000 ÷ 1.20 = $200,000. To solve this, multiply the relevant values: $240,000 at 20%.. The correct answer is $200,000.. This is a common calculation on the Indiana real estate exam.
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