Question

A house has decreased in value by 35% since it was purchased. If the current value is $78,000, what was the value when it was purchased?

Answer 1

Answer: The value of the house when it was purchased was 120,000

Explanation:

1) Set up the equation. Let x be the house.

x-x*35%= 78,000

First, the house decreases 35% of the cost of the original house. It now costs 78,000.

2) Solve the equation.

x-x*0.35 = 78,000

x-0.35x=78,000

0.65x = 78,000

x= 120,000