a house has increased in value by 35% since it was purchased. if the current value is $324,000, what was the…
a house has increased in value by 35% since it was purchased. if the current value is $324,000, what was the value when it was purchased?
Answer
Explanation:
Step1: Let the original value be $x$.
The current - value is the original value plus the increase. The increase is 35% of the original value. So the current value is $x + 0.35x=1.35x$.
Step2: Set up the equation.
We know that the current value is $324000$, so $1.35x = 324000$.
Step3: Solve for $x$.
$x=\frac{324000}{1.35}=240000$.
Answer:
$240000$