Question

A family's home is currently worth $1,553,426, which is 70% higher than the home was

worth when they bought it. What was the value of the home when they bought it?

Answer 1

The value of home when bought was $913,780.

Explanation:

Given that:

Current worth of the house = $1,553,426

This is 70% more than the original worth of the house.

Let,

100 be the original percent and x be the original worth

Percent increase = (100+70)% = 170%

170% of x = $1,553,426

`(170)/(100)x=1553426`

1.7x = 1553426

Dividing both sides by 1.7

`(1.7x)/(1.7)=(1553426)/(1.7)\\x= 913780`

Hence,

The value of home when bought was $913,780.