Question

One tract of land contains 25 acres. An adjoining tract of land is 1 square mile. The owners agreed to sell for $1,500 per acre. What was the total price of the 2 lots?

Answer 1

$997,500

Explanation:

Tract 1 = 25 acres

Tract 2 = 1 square mile

Cost of land per acre = $1500

Number of acres per square mile = 640 acres

Total number fo acres :

(Tract 1 + Tract 2)

(25 + 640) acres

= 665 acres

Total cost :

665 * $1500

= $997,500