Andy  sold  his  apartment  for  $497,250,  which  was  117%  of  the  amount  he  paid  three  years  ago.  What  was  the  original price that he paid three years ago

To find the original price that Andy paid for the apartment, we can set up an equation based on the given information.

Let the original price be $ x $.

According to the problem, the selling price was 117% of the original price. Therefore, we can express this as:

\[
497,250 = 1.17 \times x
\]

Now, solve for $ x $ by dividing both sides of the equation by 1.17:

\[
x = \frac{497,250}{1.17}
\]

Let's calculate this.The original price Andy paid for the apartment three years ago was $425,000.

Would you like any more details or have further questions?

Here are five related questions to explore:

1. What would be the price if Andy sold the apartment for 130% of the original price?
2. How much profit did Andy make from selling the apartment?
3. If Andy had sold it for 110% of the original price, what would the selling price have been?
4. How much more did Andy sell the apartment for compared to what he paid?
5. What would be the new percentage if Andy sold the apartment for $500,000?

**Tip:** When solving percentage problems, remember that multiplying by a percentage is the same as multiplying by the decimal form of that percentage (e.g., 117% = 1.17).

Andy sold his apartment for $497,250, which was 117% of the amount he paid three years ago. What was the original price that he paid three years ago?

Learn how to find the original price of an apartment that was sold for $497,250, which is 117% of the purchase price. The step-by-step solution covers percentage-based problem-solving and basic algebra concepts. Suitable for students in Grades 6-8.

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