If two properties were purchased for $127,000, and one property costs 25% more than the other, what is the price of the less expensive property?

To solve this problem, it's important to understand the relationship between the two properties based on the given prices and percentages.

Let's denote the price of the less expensive property as ( x ). According to the question, the more expensive property costs 25% more than the less expensive property. This can be expressed as ( x + 0.25x = 1.25x ).

The total cost of both properties is $127,000, which can be represented as:

[ x + 1.25x = 127,000 ]

Combining like terms gives:

[ 2.25x = 127,000 ]

To find the value of ( x ), divide both sides of the equation by 2.25:

[ x = \frac{127,000}{2.25} ]

Calculating this gives:

[ x = 56,444.44 ]

This value represents the price of the less expensive property.

So, identifying the correct response requires an understanding of percentage increases, total sums, and how to set up the algebraic equation to isolate the variable representing the less expensive property. The calculation leads directly to the conclusion that the less expensive property is priced at approximately $56,444