Question

A house cost 36% more today than when it was built. If the cost of the house today is $333,200, find its cost when it was built?

Answer 1

Let the cost of house, when it was built be x.

Today its cost=   x+x*(36/100)                            ...(1)

But its cost today is $333200     [given]            ...(2)

Now, equating (1) and (2),

We get,

       x+x*(36/100)=333200

       x+(36x/100)=333200

       (100x+36x)/100=33200                      [taking LCM of denominator]

        136x/100=333200

         136x=333200*100                            [rearranging terms]

          x=33320000/136

          Therefore, x= $245,000.