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From 1970 to 1975, the percent increase in the median price
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09 Oct 2019, 17:46
09 Oct 2019, 17:46
Expert Reply
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Question Stats:
70% (00:59) correct
29% (01:16) wrong based on 62 sessions
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Attachment:
#greprepclub From 1970 to 1975, the percent increase.jpg [ 305.29 KiB | Viewed 4185 times ]
From 1970 to 1975, the percent increase in the median price of new homes sold was closest to
(A) 15%
(B) 25%,
(C) 40%,
(D) 50%,
(E) 70%
Kudos for the right answer and explanation
Re: From 1970 to 1975, the percent increase in the median price
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09 Oct 2019, 22:44
09 Oct 2019, 22:44
1
Carcass wrote:
Attachment:
#greprepclub From 1970 to 1975, the percent increase.jpg
From 1970 to 1975, the percent increase in the median price of new homes sold was closest to
(A) 15%
(B) 25%,
(C) 40%,
(D) 50%,
(E) 70%
Kudos for the right answer and explanation
Here,
In 1970, median price of House sold = 22 thousand of Dollars
In 1975, median price of House sold = 38 thousand of Dollars
Therefore, the percent increase in the median price = \((\frac{{38 - 22 }}{22}) * 100 = 72\)% = approx \(70\) %
Re: From 1970 to 1975, the percent increase in the median price
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24 Oct 2019, 11:53
24 Oct 2019, 11:53
1
formula is percentage change = ((final value - initial value)/initial)*100
here final value is 1975 = 39000
initial value is = 1970 = 23000
sub in formula
= ((39000-23000)/23000)*100
= (0.6956)*100
= 69.56 nearly equal to 70%
here final value is 1975 = 39000
initial value is = 1970 = 23000
sub in formula
= ((39000-23000)/23000)*100
= (0.6956)*100
= 69.56 nearly equal to 70%
