Real Estate Math
An Indiana residential property that last sold for $198,000 is now listed at $249,000. What is the percentage increase in value?
A20.7%
B25.8%✓ Correct
C26.2%
D27.3%
Explanation
Percentage increase = ($249,000 − $198,000) ÷ $198,000 = $51,000 ÷ $198,000 = 25.76% ≈ 25.8%. Using the values given ($198,000, $249,000), apply the appropriate formula.. The correct answer is 25.8%.. This is a common calculation on the Indiana real estate exam.
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