Question

a house has decreased in value by 29% since it was purchased. if the current value is $71,000, what was the value when it was purchased?

Explanation:

Step1: Define original value as $x$

Let the original purchase value be $x$.

Step2: Calculate remaining value percentage

The house retains $100\% - 29\% = 71\%$, or $0.71$ in decimal.

Step3: Set up equation for current value

$0.71x = 71000$

Step4: Solve for original value

$x = \frac{71000}{0.71}$

Answer:

$100000$