document.write( "Question 75870: A house was purchased for $80,000 in 1991. In 2002 the same home sold for $104,000. What was the percent of increase in the price of the home? \n" ); document.write( "

Algebra.Com's Answer #54472 by tutorcecilia(2152) $\"\"$ $\"About$

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Use the formula for percent increase:
\n" ); document.write( "(New amount) - (Old amount)/(Old amount) x 100%
\n" ); document.write( "(104,000-80,000)/80,000 x 100% = 30% [Plug-in the values]
\n" ); document.write( ".
\n" ); document.write( "Checking: 80,000 X 30% = 80,000 x .30 = 24,000
\n" ); document.write( "80,000 + 24,000 = 104,000 [checks out] \n" ); document.write( "

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