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A house's value decreases by 12% over a year. If the original value was $300,000

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Question: A house\'s value decreases by 12% over a year. If the original value was $300,000, what is the value after the decrease?

Options:

  1. $264,000
  2. $270,000
  3. $280,000
  4. $290,000

Correct Answer: $264,000

Solution: 

Value after decrease = Original Value - (12% of Original Value) = 300000 - (0.12 * 300000) = 300000 - 36000 = $264,000.

A house's value decreases by 12% over a year. If the original value was $300,000

Practice Questions

Q1
A house's value decreases by 12% over a year. If the original value was $300,000, what is the value after the decrease?
  1. $264,000
  2. $270,000
  3. $280,000
  4. $290,000

Questions & Step-by-Step Solutions

A house's value decreases by 12% over a year. If the original value was $300,000, what is the value after the decrease?
  • Step 1: Identify the original value of the house, which is $300,000.
  • Step 2: Calculate 12% of the original value. To do this, multiply the original value by 0.12: 0.12 * 300000.
  • Step 3: Perform the multiplication: 0.12 * 300000 = $36,000.
  • Step 4: Subtract the amount calculated in Step 3 from the original value: 300000 - 36000.
  • Step 5: Perform the subtraction: 300000 - 36000 = $264,000.
  • Step 6: The value of the house after the decrease is $264,000.
  • Percentage Decrease – Understanding how to calculate a decrease in value based on a percentage of the original value.
  • Basic Arithmetic – Performing basic operations such as multiplication and subtraction to find the final value.
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