A family's home is currently worth 531,056, which is 20% lower than the home was worth when they bought it. What was the value of the home when they bought it?

Solution

A family's home is currently worth 531, 056, which is 20% lower than the home was worth when they bought it. What was the value of the home when they bought it?

Solution

Amount before reduction : 663820

Solution steps

Translate the problem into an equation:

531056 = x - 0.2 x

531056 = x - 0.2 x : x = 663820

Amount before reduction : 663820

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