Real Estate Math
A South Carolina property's annual gross income is $72,000. Operating expenses are $28,800. What is the expense ratio?
A28.8%
B30%
C40%✓ Correct
D60%
Explanation
Expense ratio = Operating Expenses ÷ Gross Income = $28,800 ÷ $72,000 = 0.40 = 40%. Using the values given ($72,000, $28,800), apply the appropriate formula.. The correct answer is 40%.. This is a common calculation on the South Carolina real estate exam.
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