When Marika bought her house she paid 80% of the purchase price of the house with a loan. She paid the remaining 49,400 of the purchase pric

Question

When Marika bought her house she paid 80% of the purchase price of the house with a loan. She paid the remaining 49,400 of the purchase price with her savings. What was the purchase price of her house?

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    2021-11-25T21:59:31+00:00

    Let

    x—–> the purchase price of the house

    we know that

    1) Marika paid 80\% of the purchase price of the house with a loan

    2) Marika paid the remaining \$49,400 of the purchase price with her savings

    3) \$49,400 represent the 20\% of the purchase price

    so

    0.20x=49,400

    Solve for x

    Divide by 0.20 both sides

    0.20x/0.20=49,400/0.20

    x=247,000

    therefore

    the answer is

    the purchase price of the house is \$247,000

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