Carcass wrote:
By approximately what percent did the median sale price of a new home increase from 1955 to 1975 ?
A. \(26%\)
B. \(37 \frac{1}{2} %\)
C. \(62 \frac{1}{2} %\)
D. \(167 %\)
E. \(267 %\)
The chart on the left indicates the following:
YEAR --> MEDIAN PRICE, IN THOUSANDS
1955 ----> 15
1975 ----> 40
Percent increase from 15 to 40 = \(\frac{Difference}{Original} * 100 = \frac{(40-15)}{15} * 100 = \frac{25}{15} * 100 = \frac{5}{3} * 100\) ≈ 167
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