Hawaii Pre-Licensing National Practice Exam

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Boost your confidence for the Hawaii Pre-Licensing Exam. Study with flashcards and multiple-choice questions, each providing hints and explanations. Prepare effectively!

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If two lots of 75 feet by 105 feet cost $30,000 total, what is their approximate cost per square foot?

The correct answer is: $2

To find the cost per square foot of the two lots, we first need to calculate the total area of the lots. Each lot measures 75 feet by 105 feet, so we compute the area of one lot: Area of one lot = 75 feet * 105 feet = 7,875 square feet. Since there are two lots, we multiply the area of one by two: Total area of both lots = 7,875 square feet * 2 = 15,750 square feet. Next, we take the total cost of the two lots, which is $30,000, and divide it by the total area to find the cost per square foot: Cost per square foot = Total cost / Total area = $30,000 / 15,750 square feet. Calculating this gives us approximately $1.90 per square foot. Since the closest choice provided is $2, that is categorized as the answer. This approach illustrates how the cost per square foot is derived from the total cost and the total area, allowing for practical valuation when assessing the cost of real estate per unit area.