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| Math Central | Quandaries & Queries |
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Question from Rebecca: If 38,121 sq feet equals $19,846.58 at 75% of its current value, what would the value of 1 acre be at 100% of value? |
Hi Rebecca,
As I understand it 75% of the current value of 38,121 square feet is $19,846.58. But 75% is 3/4 so
3/4 of the current value of 38,121 square feet is $19,846.58.
Thus
1/4 of the current value of 38,121 square feet is $19,846.58/3 = $6,615.5267
and hence
the current value of 38,121 square feet is 4 × $6,615.5267 = $26,462.1067.
Division by 38,121 gives
the current value of 38,121/38,121 = 1 square foot is $26,462.11/38,121 = $0.6942.
There are 43,560 square feet in an acre so
the current value of 1 acre is $0.6942 × 43,560 = = $30,237.65.
Penny
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