Question

A house has increased in value by 29% since it was purchased. If the current value is $516,000, what was the value when it was purchased?

Answer 1

X=value of the house before increase

(100%+29%)X=516,000

(129%)X=516,000

1.29x=516,000 | divided by 1.29 both sides

X=400,000$ was the value when it was purchased

Answer 2

The value of house $ 400,000

Explanation:

Let x be the price of house when it was purchased,

∵ 29% of x =
`(29x)/(100)` = 0.29x

According to the question,

x + 29% of x = 516000

x + 0.29x = 516000

1.29x = 516000

`\implies x=(516000)/(1.29)=400000`

Hence, the value of the house is $ 400,000 when it was purchased.