madgeclaybion madgeclaybion

07-03-2017
Mathematics

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House sold for $132000. Seller made 10% over original purchase price. What is the original purchase price of house

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dexteright02 dexteright02

07-03-2017

V (sale value) = $ 132000
P (profit) = 10% on the sale, ie 10/100 * 132000 = 1320000/100 = $ 13200
C (cost) = ?

As:

V = C + P
132000 = C + 13200
C = 132000-13200
C = 118800

Answer:

He paid $ 118800 for the house (Purchase price of house)

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