find the ratio

Question

A house with an orginal value of $280,000 increased in value to $350,000 in 5 years. Write as a fraction in simplest form to the ratio of the increase in value to the orginal value of the house

Answer 1

To solve this problem first find the total amount of increase.

 

value(after 5 years) - original value = amount of increase in 5 years

 

$350000-$280000 = $70000

 

The ratio of value increase in 5 years is therefore:  $70000/5 years

 

Converting to the simplest form, we get: $14000/1 year