There is not enough information to answer the question. First of all, the shape of the area is unknown. Even if it were a rectangle, all that can be said is that one of the sides must be at least sqrt(500) = 22.36 ft (approx).
Take any number L greater than 22.36
and let W = 500/L
Consider a rectangle with Length = L ft and Width = W ft.
The area of such a rectangle is L*W = L*(500/L) = 55 sq ft.
But L is ANY length more than 22.36 feet. There are infinitely many possible values for L.
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Ex: Length 1000 mm Width 500 mm Square feet=(Length*Width)/90000 ( (1 Sqft=(300*300)mm=90000mm) =(1000*500) /90000 Answer = 5.55 sqft
L + W = P/2 = 250; L = 4W so L = 200 and W = 50 making the area 10000 sqft
10 feet
5 km or 5000 meters
Area of the park: 0.5*2 = 1 square km