Real Estate Math
A West Virginia home's assessed value increased from $120,000 to $144,000. What is the percentage increase in assessed value?
A15%
B20%✓ Correct
C24%
D10%
Explanation
Percentage increase = ($144,000 - $120,000) / $120,000 = $24,000 / $120,000 = 0.20 = 20%. Using the values given ($120,000, $144,000), apply the appropriate formula.. The correct answer is 20%.. This is a common calculation on the West Virginia real estate exam.
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