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

Answer 1

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.