Question

A house has increased in value by 35% since it was purchased. If the current value is $297,000, what was the value when it was purchased? ​

Answer 1

Answer:

$260,000

Explanation:

Explanation:

Given the problem above, we solve for original value

Hence, in this case, we are given

percentage (35%) and the New Value ($351,000).

We can substitute this into the formula and solve for X

Let X be the original price, Hence, X = 100%

Therefore, $351000 = 135%

Divide both sides by 135

351000÷ 135 = 135÷135

2600 = 1%

Multiply both sides by 100

2600 * 100 = 1% * 100

$260000 = 100% = X

Hence, final answer is $260000