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A house has increased in value by 38% since it was purchased. If the current value is $483,000 , what was the value when it was...Question
A house has decreased in value by 33% since it was purchased if the current value is $2,001,000 what was the value when it was purchased
Answers
GPT 3.5
Let's assume the value when it was purchased was x.
Since the house has decreased in value by 33%, the current value is x - 0.33*x = 0.67*x
Given that the current value is $2,001,000, we can set up the equation:
0.67*x = $2,001,000
Dividing both sides of the equation by 0.67:
x = $2,001,000 / 0.67
x = $2,988,059.70
Therefore, the value when the house was purchased was approximately $2,988,059.70.
Since the house has decreased in value by 33%, the current value is x - 0.33*x = 0.67*x
Given that the current value is $2,001,000, we can set up the equation:
0.67*x = $2,001,000
Dividing both sides of the equation by 0.67:
x = $2,001,000 / 0.67
x = $2,988,059.70
Therefore, the value when the house was purchased was approximately $2,988,059.70.