The cost of a one-family home was $ 120,000 in 1980. In 1988, the price had increased to $ 180,000. What was the percent increase in the cost of the home?  Choose the correct choice from the following options.
A) 60%
B) 50%
C) 55%
D) 40%
E) 33.3%
Percentage Increase = Increase in price / original price *100= (180000-120000)/120000*100= 
<gadget id="calculator">(180000-120000)/120000*100</gadget>
<output>50</output>
50%   Answer: 50%
<result>B</result>
The cost of a one-family home was $ 120,000 in 1980. In 1988, the price had increased to $ 180,000. What was the percent increase in the cost of the home?