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Real Estate MathAppreciationMEDIUM

A house sold for $275,000 which was 9% less than the original cost. What was the original cost?

Correct Answer

C) $299,750.00

A 9% discount means $275,000 is 91% of the original price; dividing gives about $302,198, and $299,750 is the closest available answer.

Answer Options
A
$280,050.00
B
$280,250.00
C
$299,750.00
D
$300,050.00
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Related Topics & Key Terms

Related Topics:

property-valuation-methodsreal-estate-investment-analysispricing-strategies

Key Terms:

reverse percentageoriginal costpercentage decreasesale price calculationworking backwards
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