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Stamp duty of 3% is paid on house sales over £250,000. How much stamp duty is paid by purchasers of Apline houses in 2009?
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Correct answer: C
Explanation
calculate the total number of houses where stamp duty is due
£300,000 houses: 460 + 490 = 950
£400,000 houses: 230 + 270 = 500
£500,000 houses: 150 + 175 = 325
Then calculating the stamp duty due 950 x £300,000 x 3% = £8,550,000
500 x £400,000 x 3% = £6,000,000
325 x £500,000 x 3% = £4,875,000
Total = £19,425,000
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