Question

A family paid $26.400 as a down payment for a home. If this represents 16% of the price of the home, find the price of the home.

The price of the home is $?

Answer 1

The correct answer is:

How to find X if P percent of it is Y. Use the percentage formula Y/P% = X

Convert the problem to an equation using the percentage formula: Y/P% = X
Y is 26,400, P% is 16%, so the equation is 26,400/16% = X
Convert the percentage to a decimal by dividing by 100.
Converting 16% to a decimal: 16/100 = 0.16
Substitute 0.16 for 16% in the equation: 26,400/0.16 = X
Do the math: 26,400/0.16 = X
X = 165,000
So $ 165,000 is the price of the home.

I hope this helps you!!