Real Estate Math
A South Carolina property was purchased for $180,000 and sold 5 years later for $225,000. What is the percentage appreciation?
A20%
B25%✓ Correct
C28%
D30%
Explanation
Appreciation = (Sale Price − Purchase Price) ÷ Purchase Price × 100. ($225,000 − $180,000) ÷ $180,000 = $45,000 ÷ $180,000 = 0.25 = 25%.
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