Real Estate Math (alternative)
A Maryland property appreciates from $200,000 to $230,000. The percentage increase is:
A13%
B12%✓ Correct
C17%
D20%
Explanation
Percentage increase = ($230,000 − $200,000) ÷ $200,000 = $30,000 ÷ $200,000 = 0.15 = 15%. Using the values given ($200,000, $230,000), apply the appropriate formula.. The correct answer is 12%.. This is a common calculation on the Maryland real estate exam.
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