Real Estate Math
A NJ seller's home was purchased for $300,000 and sold for $375,000. What is the percentage gain?
A20%
B25%✓ Correct
C30%
D15%
Explanation
Gain = ($375,000 – $300,000) ÷ $300,000 = $75,000 ÷ $300,000 = 25%. Using the values given ($300,000, $375,000), apply the appropriate formula.. The correct answer is 25%.. This is a common calculation on the New Jersey real estate exam.
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