Question

The value of a house has been increased by 7%

The newly valued price is £749000
What is the price before the increase

Answer 1

700000

Explanation:

If it has been increased by 7%, then its percentage would be 107% and the price before the increase [original price] would be 100%.

107%=749000

100%=x

where x is the new price.

Cross multiplying;

107x=749000

x=749000/107

x is 700000