Real Estate Math
A Mississippi property was bought for $120,000 and sold for $144,000. The percentage gain is:
A20%✓ Correct
B24%
C16%
D18%
Explanation
Gain % = ($144,000 − $120,000) ÷ $120,000 = $24,000 ÷ $120,000 = 20%. Using the values given ($120,000, $144,000), apply the appropriate formula..
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