Real Estate Math
A Pennsylvania seller paid $275,000 for a home 5 years ago and sells it today for $342,000. What is the percentage gain?
A19.6%
B24.4%✓ Correct
C80.4%
D19.4%
Explanation
Percentage gain = (Sale Price minus Purchase Price) divided by Purchase Price times 100. ($342,000 minus $275,000) divided by $275,000 times 100 = $67,000 divided by $275,000 times 100 = 24.
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