A house has decreased in value by 33% since it was purchased if the current value is $2,001,000 what was the value when it was purchased
Let's assume the value when it was purchased was x.
Since the house has decreased in value by 33%, the current value is x - 0.33*x = 0.67*x
Given that the current value is $2,001,000, we can set up the equation:
0.67*x = $2,001,000
Dividing both sides of the equation by 0.67:
x = $2,001,000 / 0.67
x = $2,988,059.70
Therefore, the value when the house was purchased was approximately $2,988,059.70.
To find the original value of the house, we need to calculate the value it has decreased by and subtract it from the current value.
Step 1: Calculate the decrease in value:
Decrease in value = Current value * Percentage decrease
Decrease in value = $2,001,000 * 33% = $2,001,000 * 0.33 = $660,330
Step 2: Calculate the original value:
Original value = Current value + Decrease in value
Original value = $2,001,000 + $660,330 = $2,661,330
Therefore, the value of the house when it was purchased was $2,661,330.