Question

Another house is sold for £283,392

This is 1.6% less than the price paid for the house. What was the price paid?​

Answer 1

the price paid is £288,000

Explanation:

The computation of the price paid is shown below:

Sale of the another house is £283,392

Since the another house would be 1.6% less than the price paid

So, the price paid would be

= £283,392 × 100 ÷ (100 - 1.6%)

= £283,392 × 100 ÷ 98.4

= £288,000

Hence, the price paid is £288,000