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During a recent housing boom, the median price of homes increased in the United States. If James bought his house for $250,000 and the value 1 year later was $285,800, compute the percent decrease in the value of the house.

If necessary, round to the nearest hundredth of a percent.

User Rubeonline
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1 Answer

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James bought his house for = $250000

The value of the house 1 year later was = $285800

Difference in values =
285800-250000=35800

Let the percent increase be = x


(250000)/(100)*x=35800


250000x=3580000


x=14.32

Hence, the price from 1st year increased by 14.32% in the 2nd year.





User Cong
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