A house has increased in value by 15% since it was purchased. If the current value is $368,000, what was the value when it was purchased?

368,000x0.15=55200

368,000-55200=312,800

Price before increase = $312,800

If you would like to know the value of the house when it was purchased, you can calculate this using the following steps:

115% of x is $368000

115% * x = 368000

115/100 * x = 368000 / * 100/115

x = 368000 * 100 / 115

x = $320000

Result: The value of the house when it was purchased was $320000.