Percentages involving Finances: Profit and Loss

Percentages involving Finances: Profit and Loss

TGM Original Questions

A house costs \(\$300,000\) in the year \(2010\), and the price increased by \(20\%\) over the next \(5\) years. Then the price further increased by \(25\%\) over the next \(5\) years. Find

  1. the prices of the house in the year \(2015\) and the year \(2020\), respectively,
  2. the overall percentage of increase in the house's price from year \(2010\) to \(2020\).

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Answer:(i) \(360\,000\) dollars in 2015 and \(450\,000\) dollars in 2020 (ii) \(50\%\) increase

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