Question

Rami bought a house on 1st January 2015

In 2015, the house increased in value by 15%
In 2016, the house decreased in value by 8%

On 1st January 2017, the value of the house was $687700

What was the value of the house on 1st January 2015?

Answer 1

Answer:

find in sp cp chapter value of valuables

Answer 2

Given data:

• Ram bought a house on 1at January 2015
• In 2015, the house increased in value by 15%
• In 2016, the house increased in value by 8%
• On January 2017, the value of the house was $687700

To find: the value of the house on 1st January 2015

Step-by-step explanation:

Let the value of the house on 1st January 2015 was x.

Then the value of the house on 1st January 2016 was

$ x * (1 + 15/100) = $115x/100

Also the value of the house on 1st January 2017 was

$115x/100 * (1 - 8/100) = $529x/500

By the given condition,

529x/500 = 687700

or, x = 687700 * 500/529

or, x = 650000

Answer:

Therefore, the value of the house on 1st January 2015 was $650000.