Real Estate Math
A Texas investor paid $550,000 for a property and sold it 3 years later for $660,000. Ignoring all costs, what was the total percentage gain?
A15%
B18%
C20%✓ Correct
D22%
Explanation
Gain = ($660,000 − $550,000) ÷ $550,000 = $110,000 ÷ $550,000 = 0.20 = 20%.
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