Answer:
£700,000
Step-by-step explanation:
Let's call x the original value of the house. Keeping in mind that
[tex]7%=\frac{7}{100}[/tex]
We have that when the value of the house increases by 7%, the new value is £749,000. This condition can be re-written as
[tex]x+\frac{7}{100}x = 749,000[/tex]
Now we can solve the equation to find x:
[tex]x+\frac{7x}{100}=749,000\\100x + 7x = 74,900,000\\107 x = 74,900,000\\x=\frac{74,900,000}{107}=700,000[/tex]
So, the original value of the house was
£700,000
The value of the house before the increase is £700,000.
The value of Zlatan's house is £749,000 after a 7% increase in the value of the house. The total percentage increase in the price of the house is 107% (100 + 7).
In order to determine the value of house before the increase, this formula would be used:
Initial value of the house = new value of the house / total percentage increase
£749,000 / 107%
= £749,000 / 1.07
= £700,000.
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