Question

solve for math: the current median home price is $330400, which is 18% higher than last year's median home price. what was last year's median home price?

Answer 1

18 percent increase is the same as saying
$\frac{118}{100} \times x = 330400$
by multiply by the multiplicative inverse
$x = 330400 \times ( \frac{100}{118} )$
which implies

$x = 280000$