Answer:
A house has decreased in value by 24% since it was purchased, that means the current value is 24% less than the value when it was purchased.
To find the original value, we can use the following formula:
Original Value = Current Value / (1 - (Decrease % / 100))
where the decrease is expressed as a decimal, thus 24% is 0.24
Original Value = $209,000 / (1 - 0.24)
Original Value = $209,000 / 0.76
Original Value = $275,000
So the original value when it was purchased is $275,000