Question

1. If a house cost $200,000 in Las Vegas in 2012 and there was a 20.7% increase in houses from 2012 to 2013, what is the price of the house in 2013.?

Answer 1

$241,400

Explanation:

House costs: $200,000

Percentage increase: 20.7%

This means that the cost of the house increased by that percentage from 2012 to 2013. Therefore the following,

200,000 x 20.7/100 = 41,400

So the value of the house increased by $41,400 in this year.

Now we add to evaluate the total price of the house in 2013.

200,000 + 41,400 = 241,400

House price: $241,400