Real Estate Math
A Bismarck property increases in value from $195,000 to $227,000. What is the percentage increase?
A14.4%
B16.4%✓ Correct
C12.8%
D18.2%
Explanation
Percentage increase = (New value - Old value) ÷ Old value × 100 = ($227,000 - $195,000) ÷ $195,000 × 100 = $32,000 ÷ $195,000 × 100 = 16.4%.
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