29. A tract of land is 500 feet wide and 1/5 that deep. If the tract sold for $4 per square foot, what was the price of the tract?
Answer: C
The price of the tract is $160,000.
To find the price of the tract, first calculate the area by multiplying the width (500 feet) by the depth (100 feet), which is derived from 1/5 of the width. The area of the land is therefore 50,000 square feet, and when multiplied by the price per square foot ($4), the total price comes to $160,000.
A) $8,000
This option is incorrect because it underestimates the total area and price. If the area were indeed 2,000 square feet, as might be implied by this figure, the calculations would not align with the given dimensions of the land.
B) $20,000
This option is also incorrect. It assumes a total area that would yield a price based on a much lower square footage than the actual 50,000 square feet calculated from the dimensions provided.
C) $160,000
This is the correct answer. The area of the tract is calculated as 500 feet wide and 100 feet deep, resulting in 50,000 square feet. When this area is multiplied by the price of $4 per square foot, the total price is $160,000.
D) $200,000
This option is incorrect as it suggests an inflated total area or price. It does not align with the calculation based on the given dimensions, which clearly indicate a total price of $160,000.
Conclusion
The correct answer is $160,000, which accurately reflects the total price derived from the calculated area of the tract and the price per square foot. All other options fail to provide a correct representation of the land’s value based on the dimensions given. Thus, only option C correctly matches the factual calculations required by the question.