After Hurricane Katrina, about 250,000 New Orleans residents relocated to Baton

Question

After Hurricane Katrina, about 250,000 New Orleans residents relocated to Baton Rouge, Lousiana, and as a result, housing prices in Baton Rouge rose from an average of $130,000 for a single family home to $156,000 six months later. Just prior to the Hurricane, 3600 home were listed for sale in Baton Rouge, and a week after the Hurricane only 500 homes were listed for sale.

According to this application, from the time period immediately preceding Hurricane Katrina to six months following the storm, the average price for a single family home in Baton Rouge increased by_________ percent.

a). 8
b). 17
c). 20
d). 26

Explanation / Answer

(156,000-130,000)/130,000= 20%

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