Virginia Real Estate Exam Practice Question
Carl is interested in purchasing a lot that is 200 feet wide by 600 feet long. The seller has it priced at $800 per acre. How much would this lot cost?
Correct Answer: B
Rationale: To determine the cost of the lot, first, calculate its area in acres. The lot measures 200 feet by 600 feet, which equals 120,000 square feet. Since there are 43,560 square feet in an acre, divide 120,000 by 43,560 to find the area in acres, which is approximately 2.75 acres. Multiplying this by the price of $800 per acre results in a total cost of $2,200.
Option A ($1,600) underestimates the area and price. Option C ($4,132) incorrectly applies a higher price per acre, while Option D ($4,800) assumes an inflated area or price. Thus, $2,200 is the accurate total cost for the lot.
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