Question

You are offered three plots of land. Plot 1 sells for $1300 for 1.5 ha. Plot 2 is worth $750 for 2 acres, and plot 3 sells for $93 for 1000 m2. Which plot is the lowest cost per square area?

Answer 1

It is given in the question that

You are offered three plots of land. Plot 1 sells for $1300 for 1.5 ha.

And 1 hectare equals to 10000 meter square. Therefore 1.5 hectare equals to 15000 meter square .

Therefore selling price of 15000 meter square is 1300. Hence selling price of 1000meter square is

`= (1300)/(15000)*1000 = $87 approx`

Plot 2 is worth $750 for 2 acres.

And 1 acre equals to 4047 meter square. Therefore 2 acre equals to 8094 meter square .

And selling price of 8094 meter square is 750 . So selling price of 1000 meter square is

`= (750)/(8094)*1000=$92.66`

and plot 3 sells for $93 for 1000 meter square .

If we compare all three plots, we will find that the selling price of 1000 meter square of plot one is the least of all three.

And cost per square area of plot 1 is

`=  (86.67)/(1000) = Dollar 0.087/m^2`