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# Percentage decrease watch

1. Hi,

A house was sold for £120,000 at a 4% loss on the purchase price;
what was the purchase price?

I'm almost certain I know the answer but the answers in the book tells me something different. I'm posting on here for a sanity check

2. £125,000 ?

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3. (Original post by Lala_1234)
£125,000 ?

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Yup, that's my answer. Book is telling me 124,800!?
4. (Original post by shammy)
Hi,

A house was sold for £120,000 at a 4% loss on the purchase price;
what was the purchase price?

I'm almost certain I know the answer but the answers in the book tells me something completely different. I'm posting on here for a sanity check

What did you do to work it out?
5. The answer calculated 4% of 120,000, not of the purchasing price. From my experience, maths textbooks are full of such errors.
6. (Original post by shammy)
Yup, that's my answer. Book is telling me 124,800!?
It'll just be an error in the book. They are full of them. It can be frustrating

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7. (Original post by cpdavis)
What did you do to work it out?
I did:
96% = 120,000
so 1% = 120,000 / 96 = 1250
100% = 1250 * 100 = 125,000

They calculated it on the amount first which gives an answer near enough because 4% is small but as that gets larger im guessing so does the error of the answer. I just needed a sanity check as all the other answers in the book seemed okay.
8. (Original post by shammy)
I did:
96% = 120,000
so 1% = 120,000 / 96 = 1250
100% = 1250 * 100 = 125,000

They calculated it on the amount first which gives an answer near enough because 4% is small but as that gets larger im guessing so does the error of the answer. I just needed a sanity check as all the other answers in the book seemed okay.
See I did:

I got the same answer as you
9. Yup I worked it out and the above answer is right. There must be a mistake in your textbook
10. but i got 124 800...

4% loss means the purchase price is 104% of sold price . so 1.04 x 120 000 and that's how i get there.
11. (Original post by mican)
but i got 124 800...

4% loss means the purchase price is 104% of sold price . so 1.04 x 120 000 and that's how i get there.
I did 120,000 x 1.04 = 24,800 at first.

But then reading through others posts I can see why people got the other answer too. Infact, the 125,000 I think is correct, because the original value is 100%, the sold value was -4% so 96%. So 120,000 / 0.96 = 125,000. Yeah the latter is correct I think
x
12. (Original post by Tinkletea)
I did 120,000 x 1.04 = 24,800 at first.

But then reading through others posts I can see why people got the other answer too. Infact, the 125,000 I think is correct, because the original value is 100%, the sold value was -4% so 96%. So 120,000 / 0.96 = 125,000. Yeah the latter is correct I think
x
yeah,maybe..
the more i think of it , the more confused i get .
but that's why people love maths

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