# how to calculate prices per foot square for group of lands

• Feb 6th 2013, 11:48 AM
sitri
how to calculate prices per foot square for group of lands
Hi,

i am looking for a formula to solve the following problem
i have about 60 lands, measured 3000 f2 to 6000 f2
i need a formula to calculate to price per foot square vary from \$22 to \$25
i want to start with \$22 /f2 for 6000 f2 to \$25 /f2 for 3000 f2
so the 4500 f2 should be \$23.5 and so on

i hope i make it clear

• Feb 6th 2013, 01:26 PM
chiro
Re: how to calculate prices per foot square for group of lands
Hey sitri.

Do you want the prices to be \$22 for 6000, \$25 for 3000 and all appropriate numbers in between?

If so we use what is called linear interpolation which gives us the result:

Price_Per_Square_Foot = mx + b where m = (25-22)/(3000-6000) = -1/1000 and b is found by calculating:

22 = -1/1000*6000 + b
25 = -1/1000*3000 + b

or

22 = -6 + b
25 = -3 + b or b = 28.

This means we now have a formula to calculate the price per square foot which is

Price = -1/1000*(total_square_feet) + 28 where total_square_feet is in between 3000 and 6000 inclusive.
• Feb 7th 2013, 12:13 PM
sitri
Re: how to calculate prices per foot square for group of lands
Thanks chiro,
This is what I was looking for exactly