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1) A lot is 200 feet deep and 500 feet wide. How many square feet are

in the lot?

2) How many acres are in a lot that measures 100 feet deep and 200 feet

wide?

3) The county real estate property tax rate is $ 0.87 per $100 of assessed

value. If the assessed value is $250,000, what is the annual county tax

bill?

4) If the annual real estate tax bill is $3,000 and the tax rate is $1.25 per

$100 of assessed value, what is the assessed value?

5) What is the amount of excise tax the seller will pay in North Carolina

if the listing price was $145,000 and the final sales price was

$130,000? What will be the entry on the Closing Disclosure?

6) The listing firm and the selling firm will equally split the 6%

commission paid by the seller based on the final sales price. What

amount will each firm receive if the listing price was $190,000 and the

sales price was $189,000?

7) If the seller will pay a 5% commission, what will the seller receive

after paying the commission on a sales price of $80,000?

8) What is the commission rate if the seller wants to net $90,000 with a

sales price of $100,000?

percentage of gross sales income exceeding a stated monthly or

annual amount.

annual sales that exceeds $160,000. What is the annual rent if

annual sales are $250,000?

monthly rent, what is the annual commission if the office rents for

$475 per month.

11) The buyer is putting 15% down on a property with a sales price of

$90,000. What is the loan amount?

12) The lender is providing a loan that represents 90% of the sales price.

What is the borrower’s down payment if the sales price is $200,000?

13) The borrower makes $4,000 per month. If the lender allows a housing

debt ratio up to 30% of the borrower’s gross monthly income, what is

the maximum amount of housing debt allowed?

14) If the property sold for $100,000, what is the percentage of gross

profit if the original sales price was $80,000?

15) If the seller originally purchased the property for $120,000, what was

the selling price if the seller had a 20% loss?

ANSWERS: 15 Real Estate Math Questions

1) A lot is 200 feet deep and 500 feet wide. How many square feet are

in the lot?

Answer: 200 x 500 = 100,000 square feet

2) How many acres are in a lot that measures 100 feet deep and 200 feet

wide?

Answer: 100 X 200 = 20,000 square feet

20,000 divided by 43,560 = 0.46 acres

3) The county real estate property tax rate is $ 0.87 per $100 of assessed

value. If the assessed value is $250,000, what is the annual county tax

bill?

Answer: 250,000 divided by 100 = 2,500 X 0.87 = $2,175

4) If the annual real estate tax bill is $3,000 and the tax rate is $1.25 per

$100 of assessed value, what is the assessed value?

Answer:

The equation with known variables is noted below:

Assessed value

____ X 1.25 = $3,000

100

Assessed value X 1.25 = 300,000

Then divide both sides by 1.25

Assessed value = 300,000 divided by 1.25 = 240,000

5) What is the amount of excise tax the seller will pay in North Carolina

if the listing price was $145,000 and the final sales price was

$130,000? What will be the entry on the Closing Disclosure?

Answer: 130,000 divided by 500 = $260

Seller Debit for $260 (single entry)

6) The listing firm and the selling firm will equally split the 6%

commission paid by the seller based on the final sales price. What

amount will each firm receive if the listing price was $190,000 and the

sales price was $189,000?

7) If the seller will pay a 5% commission, what will the seller receive

after paying the commission on a sales price of $80,000?

Sales price X (100-commission rate) = seller receives

80,000 X 95% = 76,000

8) What is the commission rate if the seller wants to net $90,000 with a

sales price of $100,000?

Answer: Equation:

Sales price X (100-commission rate) = seller receives

100,000 (100-commission rate) = 90,000

Divide both sides of the equation by 100,000

90,000 ÷100,000 = .90 X 90%

90% received means seller paid a 10% commission

Or:

100,000 – 90,000 = 10,000 / 100,000 = .10 X 100 = 10%

percentage of gross sales income exceeding a stated monthly or

annual amount.

annual sales that exceeds $160,000. What is the annual rent if

annual sales are $250,000?

Answer: Fixed amount of $1,300 per month +

5% of annual sales that exceeds

$160,000.

1,300 x 12 = 15,600 annual base rent

4,500 + 15,600 (base) = $20,100

monthly rent, what is the annual commission if the office rents for

$475 per month.

475 X 12 = 5,700 X 8 % = $456 annual commission

11) The buyer is putting 15% down on a property with a sales price of

$90,000. What is the loan amount?

90,000 – 13,500 = 76,500

12) The lender is providing a loan that represents 90% of the sales price.

What is the borrower’s down payment if the sales price is $200,000?

200,000 – 180,000 = $20,000

13) The borrower makes $4,000 per month. If the lender allows a housing

debt ratio up to 30% of the borrower’s gross monthly income, what is

the maximum amount of housing debt allowed?

14) If the property sold for $100,000, what is the percentage of gross

profit if the original sales price was $80,000?

20,000 divided by 80,000 = .25 X 100 = 25%

15) If the seller originally purchased the property for $120,000, what was

the selling price if the seller had a 20% loss?

Answer: A 20% loss means the seller only received 80% of the

original purchase price.

Or:

120,000 – 24,000 = 96,000

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