Question

The value of a house has increased by 5% the house is now valued at £609000 what is the value of the house before the increase? I found a post that answered the question but it didn't explain how they got the answer.

Answer 1

Answer:

$Current \ price = 609000\\\\Let \ the \ original \ price \ be = x\\\\\% increase = 5 \% \ of \ x = \frac{5}{100} \times x = \frac{5x}{100}\\\\Price \ after \ increase, current\ price = \frac{5x}{100} + x$

$=> 609000 = \frac{5x}{100} + x\\\\=>609000 = \frac{105x}{100}\\\\=> x = \frac{609000 \times 100}{105}\\\\x = 580000$

Therefore original price = $580,000