Question

The monthly rent on an 80-square-meter apartment in Monte Carlo is 1150 euros. The monthly rent on a 500-square-foot apartment in Santa Fe, New Mexico, is $800. In terms of price per area, which apartment is less expensive?

Answer 1

Answer:

The apartment in Monte Carlo is less expensive

Step-by-step explanation:

Given:

Rent in 80-square-meter apartment in Monte Carlo = 1150 euros.

rent on a 500-square-foot apartment in Santa Fe  =  $800.

To Find:

Which apartment is less expensive =?

Solution:

Price per area in Monte Carlo

Cost per square meter in Monte Carlo

=>$\frac{\text{Total rent}}{\text{total area}}$

=>$\frac{1150}{80}$

=>$14.375$ euros per square meter

Converting to euros per square meter to dollars per square foot

1 Euro per square meter=  0.102355924 U.S. dollars per square foot

14.375 euros per square meter = 0.102355924 x 14.375 = 1.471 U.S. dollars per square foot------------------------(1)

Price per area Santa Fe, New Mexico

=>$\frac{\text{Total rent}}{\text{total area}}$

=>$\frac{800}{500}$

=> 1.6 dollars per square foot-------------------------(2)

From (1) and (2)

1.471 < 1.6

Apartment in Monte Carlo is less expensive than Apartment in Santa Fe, New Mexico