Real Estate Math
A Michigan property purchased for $180,000 sells for $225,000. What is the percentage increase in value?
A20%
B25%✓ Correct
C22.5%
D18%
Explanation
Percentage increase = (Sale Price − Purchase Price) ÷ Purchase Price = ($225,000 − $180,000) ÷ $180,000 = $45,000 ÷ $180,000 = 25%.
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