a house has increased in value by 27% since it was purchased. if the current value is $508,000, what was the…
a house has increased in value by 27% since it was purchased. if the current value is $508,000, 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 27% of the original value. So, the equation is $x + 0.27x=508000$. This simplifies to $1.27x = 508000$.
Step2: Solve for $x$.
Divide both sides of the equation $1.27x = 508000$ by 1.27. So, $x=\frac{508000}{1.27}$.
Step3: Calculate the value of $x$.
$x = 400000$.
Answer:
$400000$