Real Estate Math
A Kentucky home was purchased for $175,000 and sold for $227,500. What was the percentage of appreciation?
A25%
B28%
C30%✓ Correct
D33%
Explanation
Appreciation = ($227,500 − $175,000) ÷ $175,000 = $52,500 ÷ $175,000 = 30%. Using the values given ($175,000, $227,500), apply the appropriate formula.. The correct answer is 30%.. This is a common calculation on the Kentucky real estate exam.
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