A family's home is currently worth 463,248, which is 20% higher 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 463, 248, which is 20% higher than the home was worth when they bought it. What was the value of the home when they bought it?

Solution

Amount before addition : 386040

Solution steps

Translate the problem into an equation:

463248 = x + 0.2 x

463248 = x + 0.2 x : x = 386040

Amount before addition : 386040

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