A house has increased in value by 15% since it was purchased. If the current value is $368,000, what was the value when it was purchased?

If you would like to know the value of the house when it was purchased, you can calculate this using the following steps:

115% of x is $368000

115% * x = 368000

115/100 * x = 368000 / * 100/115

x = 368000 * 100 / 115

x = $320000

Result: The value of the house when it was purchased was $320000.

368,000x0.15=55200

368,000-55200=312,800

Price before increase = $312,800