Question

A home purchased for $120,000 in 2012 is sold for $156,000 in 2015. What is the percent increase in the price?

Answer 1

30% increase

Explanation:

First, find the difference between the prices:

156,000 - 120,000

= 36,000

Then, find what percent this is of the original price:

36,000/120,000

= 0.3

So, the percent increase is 30%