Answer:
Purchase rate of the house is $480000.
Step-by-step explanation:
Let the purchase rate of the house = $p
Current value of the house = $648000
If the current rate of the house has increased by 35% of the purchase rate,
Current rate = Purchase rate + 35% of the purchase rate
648000 = p + (35% of p)
648000 = p + [tex]p\times \frac{35}{100}[/tex]
648000 = p + 0.35p
648000 = (1.35)p
p = [tex]\frac{648000}{1.35}[/tex]
p = $480000
Therefore, purchase rate of the house is $480000.
