Question

​"At ​$1.31 million​, they closed last month for...28 percent above what they paid in​ 2007." How much did they pay in​ 2007?

Answer 1

Answer:

Step-by-step explanation:

Answer: 1,069,200

Step-by-step explanation:

We know that they paid 1.32 million and was 19% above what they paid in 2007.

Since they paid 19 percent above (1.19) 2007 we can reverse and do 0.81 * 1,320,000 to get our answer.

You may be wondering why it's 0.81 instead of 0.19 that is because 1.19 is over 1. Since 100 is equal to a whole we subtract 0.19 from 100 to get our value we multiply by.

1,320,000 * 0.81 = 1,069,200

We can also find the different simply by doing 1,320,000 * 0.19 which equals 250,800 and to get our answer from here we just subtract 1,320,00 by 250,800

Answer 2

Answer:

$1.0234375 million or $1,023,437.5

Step-by-step explanation:

Let x represent the amount paid in 2007.

We have been given that at $1.31 million​, they closed last month for...28 percent above what they paid in​ 2007." We are asked to find the amount paid in 2007.

The amount paid in last month would be x plus 28% of x.

$x+\frac{28}{100}x\\\\x+0.28x\\\\1.28x$

Let us equate the price paid last month by $1.28x$ as:

$1.28x=1.31$

$\frac{1.28x}{1.28}=\frac{1.31}{1.28}$

$x=1.0234375$

Since our given amount is in millions, so we can convert into dollars.

1 million = 1,000,000.

$\text{1.0234375 million}=\ 1.0234375\times 1,000,000$

$\text{1.0234375 million}=\ 1,023,437.5$

Therefore, they paid $1.0234375 million or $1,023,437.5 in 2007.