Real Estate Math
An Indiana home has been on the market 90 days and the seller has reduced the price from $350,000 to $322,000. What is the percentage price reduction?
A6%
B7%
C8%✓ Correct
D9%
Explanation
Reduction = ($350,000 − $322,000) ÷ $350,000 = $28,000 ÷ $350,000 = 0.08 = 8%. Using the values given ($350,000, $322,000), apply the appropriate formula.. The correct answer is 8%.. This is a common calculation on the Indiana real estate exam.
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