Real Estate Math
A home's value decreased by 12% in the past year to its current value of $330,000. What was the original value one year ago?
A$371,250
B$369,600
C$375,000
D$330,000✓ Correct
Explanation
Current value = Original × (1 − 0.12) = Original × 0.88. Original = $330,000 ÷ 0.88 = $375,000.88 = $330,000. The answer is $375,000. Closest listed answer: $375,000.
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