Question

A house has increased in value by 28% since it was purchased. If the current value is $544,000, what was the value when it was purchased?

Answer 1

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Answer:

$425,000

Explanation:

The current value is 1 + 28% = 1.28 times the original value:

$544,000 = 1.28×(purchase price)

Dividing by the coefficient of the variable, we find the solution to be ...

(purchase price) = $544,000/1.28 = $425,000

The value when it was purchased was $425,000.