A house loses 18% of its value. Its new value is £129 000.
Work out the earlier value of the house.
Give your answer to a suitable degree of accuracy.
0.82x = 129,000
(1 - .18)x = 129000
To find the earlier value of the house, we need to consider that the current value is 82% (100% - 18%) of the earlier value.
Let's represent the earlier value of the house as x.
We can set up the following equation:
82/100 * x = £129,000
To solve for x, we can multiply both sides of the equation by 100 and divide both sides by 82:
x = (£129,000 * 100) / 82
Calculating the value of x:
x = £157,317.07
Therefore, the earlier value of the house was approximately £157,317.07.