National Real Estate Exam (PSI)Real Estate CalculationsHard
A trapezoidal lot has parallel sides of 200 feet and 260 feet, with a depth of 175 feet. If the land sells for $1.15 per square foot, what is the total price of the lot?
- A$23,000
- B$40,250
- C$46,288
- D$52,900
Show answer & explanationAnswer & explanation
Correct answer: C. $46,288
Area of a trapezoid = ½ × (sum of parallel sides) × height = ½ × (200 + 260) × 175 = ½ × 460 × 175 = 40,250 sq ft. Total price = 40,250 × $1.15 = $46,287.50, rounded to $46,288.
Why the other options are wrong
- A. This is roughly half the correct area value, not the price.
- B. This is the area in square feet, not the total price.
- D. This overstates the price using an incorrect area calculation.
Trapezoid Area Formula
The area of a trapezoid equals one-half the sum of its parallel sides multiplied by the height (depth).
- Area = ½ × (side1 + side2) × height
- Common for irregular lots with two parallel boundaries
- Multiply area by price per square foot for total value
Memory trick: Average the parallel sides, then multiply by depth