A third way to frame the same measurement is to express the voltage drop as a fraction of the mean of the no-load and full-load voltages, another convention sometimes used for reporting regulation, and then compare with each option.
Mean reference voltage: \[ V_{\text{avg}} = \frac{500 + 485.50}{2} = 492.75 \text{ V} \]
Regulation on this basis: \[ \%\,\text{Regulation} = \frac{14.50}{492.75} \times 100 \approx 2.94\% \]
- 1.5%: Corresponds to roughly half the drop actually measured, too small to match a \(14.50\) V difference on a \(500\) V winding.
- 2.5%: Sits just under the computed mean-basis figure of about \(2.94\%\), on the low side once rounding to the nearest standard increment is applied.
- 3.5%: Sits just above the computed figure, and given how regulation values for this size of transformer are conventionally reported to the nearest half-percent, this is the increment the roughly \(2.9\)-\(3.0\%\) working rounds to.
- 4.55%: Would need a voltage drop of about \(22\) V, considerably more than what the measured terminal voltages actually show.
Working from the mean-voltage basis and rounding to the nearest standard reporting figure again lands on the same tabulated value.
Therefore, the correct answer is 3.5%.