Question

A house on the market was valued at $261,000. After several years, the value decreased by 15%. By how much did the house's value decrease in dollars? What is the current value of the house?

Answer 1

Since the house decreased by 15%, the value of this in dollars becomes

`15\%*$261,000$\text{ dollars }`

Which is

`\begin{gathered} (15)/(100)*261,000 \\ =15*2,610 \\ =39,150 \end{gathered}`

Hence the house value decreased by $39,150

The current value of the house becomes

`\begin{gathered} 261,000-39,150 \\ =221,850 \end{gathered}`

Hence the current value is $221,850