The price of a new house went up 30%, if it costs $275,000, what was the old price?

Percent math word problem - home price increase.
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[@kevinreist7718]

Before I watched it this is what I came up with... $211,538.46 But since most real estate is rounded to the nearest 50 dollars, I would guess $211,550. I used Cost x1.30=275,000 Therefore 275,000÷1.30=Cost Then, I watched it and I was right.

[@terryhanvey1518]

👍 275k x 0.76923

[@CSHarvey]

Affordable. The old price was affordable. Welcome to what has happened to housing across the country for the past five years and why nobody can afford a house.

[@rustyknott-W.D]

Simple. Divide 275000 by 1.3 .Original cost =1. Add .3, interest, and divide. . Want to get 30% for the new value? Just multiply 275000 by 1.3. No need for algebra if you know how to use percentages. Easy Peasey.

[@russelllomando8460]

thanks for the explanation. i 'eyeballed' it to a bit < 215,000. you made it soooo simple.

[@MrGreensweightHist]

x*1.3 = 275,000 x = 275,000/1.3 $211,538.46

[@devonwilson5776]

Greetings. The original cost before the 30% increase was $211,538.46, rounded to $211,538.00. First, we will assume that the original cost is X. Now, an increase of 30% will be represented by 30% times X to get 30X/100. We are told that the original cost plus the increase of 30% equals $275, 000.00. Therefore, X+30X/100=$275,000.00 =100X+30X=$27,500,000.00 and 130X=$27,500,000.00 and X= $211,538.46, and the % increase will be $63,461.54. The original cost of the house was $211, 538.00 rounded.

[@charlesthomas7962]

According to the question if the current price $275,000 old price $192,500 +/- $82, 500 a general population question.

[@rs232killer]

Too many years ago I used to have to do this type of calculation when trying to pull sale value, less taxes, out of a total transaction value. In my case: sale value = transaction value / (1+tax rate)

[@kennethdias9988]

Divide by 1.3

[@kennethwright870]

$275k/1.3 = $211,538.46

[@Hugebear222]

New price =130% old price =100% solution 275000 x 100 divided by 130 which should put us in the neighborhood of $212,000 more like $211,538.

[@nicoleb3636]

Using algebra to solve, if x is the original price, then x + .30x = 275000 (where .30x represents 30% of the original). This becomes 1.3x = 275000 or x = $211,538.47.

[@pibbles-a-plenty1105]

The old price is expressed as a fraction of the new price - (100/130) * $275,000 = $211,538.46

[@tomtke7351]

Now retired, I reflect back upon my history in industry. We designed electronics. Before starting we had a document of WHAT to build. It was a design specification. It had to be fully understood before. When I read this math problem I minorly stumbled when reading: "If the house costs..." and wondered was it the original cost or new cost. So I propose a change in wording such that: "The price of a new house increased by 30%. If the house now costs $275,000, what was the old price?"

[@kevinreist7718]

Although that does somewhat clarify the question, by saying what was the old price? It is implied that the new price was the given ($275,000). But kudos! communication skills are important.

[@tomtke7351]

@@kevinreist7718 that was intended! I wanted to price given to be clearly the new price

[@user-di4zx2gu3i]

Got it. I used the x and percent algebra set up

[@lacynylons6317]

275,000/1.3 = 211,538

[@ilecier]

I see $275,000 and know in the same second that this is equal to 130%. Next is dividing $275,000 by either 130 (or 1.3 alternatively). Result times 100 = original price, result times 30 = additional 30% on the original price..... takes probably 10-15 sec with a calculator to give the real estate agent a no.....😀 Using your method, the Algebra way, would have resulted in him having a cup of coffee before I had given him a no....😄

[@samwong3123]

What a question! Full stop? Comma?

[@loribusch3566]

My students really seem to grasp the use of proportions to real world problems like this... if the new price is 130/100 = new price/ old price....just cross multiply and divide.

[@user-qt4nl6qh8x]

$211,538.46 275k is 130% of the old price. Divide 275k by 1.3

[@flashtheoriginal]

Algebra.... the answer to everything! Thanks, great stuff £275,000 is 130% (inflated sale price) Therefore £275,000/ 1.3 = £211,538 Hope its ok to use £. You international geezer, you

[@toughenupfluffy7294]

WE insist you use pengos in my country, even though it's not Hungary.

[@flashtheoriginal]

@@toughenupfluffy7294 Hungary...the Forint

[@cherylwoodward]

$211,000 and some change. (Didn’t write it all down) $63,000+ is the 30%

[@m.h.6470]

The base difference of the two ways described in the video is the perception of the start value. For the wrong result, $275,000 is 100% and you subtract 30%, so you end up with 70% For the right result, $275,000 is 130% (as it is the base price + 30%) and you subtract 30%, so you end up with 100% If you rather work with multiplication/division than with subtraction: For the wrong result, $275,000 is 100% and you multiply by 0.7, so you end up with 70% For the right result, $275,000 is 130% and you divide by 1.3, so you end up with 100% Dividing by 1.3 is multiplying by ~0.769 (~76.9%), which is obviously more than the 70% of the wrong result.

[@janetsisson]

Can’t follow this

[@user-ri6rn7ti5h]

Congratulations alashion Sir

[@georgetreisbach3849]

Sorry, but the house sold @211K before the price could be increased...

[@lpjcyngomiller5719]

The answer is $211.548. $275/130%

[@Geoff_G]

You could add $2M to that new house price and still be lower than average brand new detached house prices in Vancouver BC.

[@toughenupfluffy7294]

But are they worth it?

[@Geoff_G]

@@toughenupfluffy7294 Worth? Beats me. But that is what they cost.

[@Andrew-it7fb]

FYI, $2M is $2,000.

[@Geoff_G]

@@Andrew-it7fb $2K is $2,000.

[@Andrew-it7fb]

@Geoff_G M is the Roman numeral for thousand. M is thousand. MM is million.

[@franklineshikanda9820]

Where is the link for basic maths rebulider skills?

[@seanholland554]

X + .3X =275,000

[@MrGreensweightHist]

That tells you 30% of 275,000 not 30% of the original number

[@seanholland554]

Do the math but solve for X and see what you get

[@davidmurphy563]

300*1/1.3. whatever that comes to.

[@fredhall5038]

I simply went 100 X275,000 and divided by 130.

[@Patrick-vl2gx]

After the increase the new price is 130% of the of the old one. Finding the old price when you know the value of 130% is a piece of cake.

[@gullydisciple]

Gat dammit i got the sad face !!!

[@robertcarullo4926]

you drag on and on, the shortest distance is a straight line, get to the point sooner. Just my opinion

[@CasaErwin]

or you could round off if you like.

[@hannekemorsink4122]

275000/130.100=211538

[@stephensharma4994]

you could also say 130% = 275000 and solve for 100%

[@davidhandyman7571]

You forgot the 46 cents!

[@shanisecartagena5386]

192,500

[@user-rm2rw1nd1y]

$192,500

[@MyTentLife]

192,500 is the correct answer

[@andysaiia]

Divide by 130 and multiply by 100

[@Andrew-it7fb]

Or just divide by 1.3

[@charlesthomas7962]

360,500.00

[@ryanab01]

I got with $1000 without using anything but simple math in my head.

[@gscherry1]

$357,500.00

[@danieldennis9831]

1.3x=$275000 211,538.46 approximately I assume that it's approximately 30 percent and the original price was about $210,000 but straight 30 percent is what I got.

[@jonsmith7718]

275000/13 x 10

[@gscherry1]

$164,500.00

[@lucillekelm2763]

$192,5000

[@syedamjadali1074]

Good.. but talked too much like language teacher..

[@shemiahwalker]

3 divided by 275,000 or 275,000-3. Please correct me

[@toughenupfluffy7294]

Because you have the original sale price, n, then you add 30% of that original price (.3n) to get the 275,000 value, you must use n+.3n=275,000. Factoring this you get n(1+.3)=275,000. n=275,000/1.3=211,538.46.

[@shemiahwalker]

@@toughenupfluffy7294 thank you I appreciate that

[@fayheller1996]

Off the top of my head 215

[@tommykyle1570]

I got the right answer

[@donwood9358]

$192500

[@bz3548]

I’m sorry, too confusing for me. Maybe if you hadn’t use algebra to solve the problem?🤷‍♀️. Not your fault, I’m not good at algebra.

[@sasukesarutobi3862]

Basically, if the price has gone up 30%, then the new price is 130% of the old price. To get the old price, you need to divide the new price by 130 (to get 1%), then multiply by 100 (to get 100%). These also cancel out to dividing by 1.3 (as multiplying by a number is the same as dividing by 1 over that number, so it's dividing by 130/100, which is 1.3). And I don't know if it'll help, but one thing that helped me with algebra is understanding that "x" is just a placeholder. It's basically "this number that we don't know, so we'll just use this symbol until we do know it". That might not be the problem you have with algebra, but it hopefully helps.

[@kk6aw]

192500

[@gordonsisk9814]

If you really wanted to make people angry about their score you would have had the house price go down😂

[@reginaleftwich6898]

$192,500 is the original price.

[@dido1803]

206250

[@RickyLaFluer7]

this bozo doesnt explain the correct answer to 3/4ths through the video

[@truvision1958]

192,500

[@lateefatsonibare2149]

$192,500