Question

a family paid 24,800 as a down payment for a home. if this represent 16% of the price of the home. Find the price of the home.

Answer 1

Let the price of the home be represented by P

The question also indicates that a payment of 24,800 represents 16% of the price.

We can represent this expression mathematically as shown below:

`\begin{gathered} 16\text{ \%=}(16)/(100) \\ 16\text{ \% of P= }(16)/(100)\text{ x P} \\ \Rightarrow\text{ }\frac{16\text{ P}}{100} \\ \Rightarrow\text{ 0.16P} \end{gathered}`

Since 0.16P represents 24,800

then 0.16P = 24, 800

`\begin{gathered} \text{To Solve this equation, we shall divide both sides by the coefficient of P} \\ \text{The coeffient of P is 0.16} \\ \Rightarrow\text{ }(0.16P)/(0.16)\text{ =}\frac{24,\text{ 800}}{0.16} \\ \Rightarrow\text{ P = 155,000} \end{gathered}`

Therefore, the price of the home is 155,000