Question

During the last year the value of your house decreased by 30%. If the value of your house is $235,000 today, what was the value of your house last year? Round your answer to the nearest cent, if necessary .

Answer 1

Answer:

The value of the house last year was of $335,714.29.

Step-by-step explanation:

Last year:

Last year the value of the house was x.

During the last year the value of your house decreased by 30%.

100 - 30 = 70%, and thus, the current value of the house is 70% of last year, that is, 0.7x.

$235,000 today, what was the value of your house last year?

Thus:

$0.7x = 235000$

We solve for x, so:

$x = \frac{235000}{0.7} = 335714.29$

The value of the house last year was of $335,714.29.