Math Problem Statement

A house has decreased in value by 35% since it was purchased. If the current value is $286,000, what was the value when it was purchased?

Solution

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Math Problem Analysis

Mathematical Concepts

Percentage Decrease
Algebra

Formulas

New value = Original value × (1 - Percentage decrease)
Original value = Current value / (1 - Percentage decrease)

Theorems

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Suitable Grade Level

Grades 6-8