Question

Cathy Woolfrey is buying a new home. Her realtor tells her that the home she is buying has increased in price by 10% since it was last sold. If the current price of the home is $220,000, what was the price the last time it was sold?

Answer 1

The Price of Home last time it was sold is $2,000,00

Explanation:

Given as ,

The current price of Home = $220,000

∵ This current price is 10% increase in the last price

Now , Let the last price be = $ x

Again AS per question ,

x + 10% of x = $220,000

x +
`(10)/(100)` × x = $220,000

(
`(110)/(100)`) × x = $220,000

Or, x = (
`(220,0000)/(11)`)

I.e x = $200000

Hence the Price of Home last time it was sold is $2,000,00 Answer