National Real Estate Exam (PSI)Real Estate CalculationsMedium
A triangular lot has a base of 150 feet and a height of 80 feet. If the land sells for $2.50 per square foot, what is the total price of the lot?
- A$7,500
- B$30,000
- C$12,000
- D$15,000
Show answer & explanationAnswer & explanation
Correct answer: D. $15,000
Area of a triangle = ½ × base × height = ½ × 150 × 80 = 6,000 sq ft. Total price = 6,000 × $2.50 = $15,000.
Why the other options are wrong
- A. This uses only the base times price, ignoring height and the ½ factor.
- B. This forgets to divide by 2 for the triangle area formula.
- C. This underestimates the area calculation.
Triangle Area Formula
The area of a triangular lot equals one-half the base times the height.
- Area = ½ × base × height
- Always convert area to price using price per square foot
- Common shapes on the exam: rectangle, triangle, trapezoid
Memory trick: Half the base times height, triangles are always sliced pies