Question

Jeff bought his house in 2010 for $180,000. Currently the house is worth $315,000. Find the percent of change .

Answer 1

well, the change or difference was 315000 - 180000 = 135000.

if we take $180,000 (origin amount) to be the 100%, what's 135,000 off of it in percentage?

`\begin{array}{ccll} amount&\%\\ \cline{1-2} 180000 & 100\\ 135000& x \end{array} \implies \cfrac{180000}{135000}~~=~~\cfrac{100}{x} \\\\\\ \cfrac{ 4 }{ 3 } ~~=~~ \cfrac{ 100 }{ x }\implies 4x=300\implies x=\cfrac{300}{4}\implies x=75`

Answer 2

To find the percent of change, we can use the following formula:

(New Value - Old Value) / Old Value x 100

In this case, the new value is $315,000 and the old value is $180,000.

So the percent of change is:

($315,000 - $180,000) / $180,000 * 100

This evaluates to:

$135,000 / $180,000 * 100 = 0.75 * 100 = 75%.

Therefore, the percent of change is 75%.