Question

In 2008 Alice bought a house. In 2014 she sold it for a 20% profit. In 2019 it was then sold at a 5% loss for £182,400 Work out the cost of the house in 2008.
(plz help me solve it using a specific formula or smth, thanks!)​

Answer 1

Answer:

£160,000

Step-by-step explanation:

Alice bought the house in 2008 for £x.

In 2014, the house sold for a 20% profit, so it sold for 1.2x. (* see explanation below)

In 2019, the house sold for a 5% loss, so it sold for 0.95(1.2x). (* see explanation below)

In 2019, it sold for £182,400.

0.95(1.2x) = 182,400

1.14x = 182,400

x = 182,400/1.14

x = 160,000

Answer: £160,000

* Explanation of 1.2 and 0.95.

A quick way to apply a percent increase or decrease to a number is to using the following method. The number you start with is 100% of the number. If you are adding a percent to it, then add the percent to 100% and convert it to a decimal. If you are subtracting the percent, then subtract the percent from 100% and convert to a decimal. Then multiply the decimal by the original number to find the increased or decreased number.

Example of percent increase:

A book used to cost £10. The price went up by 12%. What is the new price?

100% + 12% = 112% = 1.12

1.12 * £10 = £11.20

Example of percent decrease:

A pair of trousers costs £60. It is on sale at 35% off the regular price. What is the sale price?

100% - 35% = 65% = 0.65

0.65 * £60 = £39