The price of a certain house this year is $140,000, which is 25 percent greater than the cost of the house last year. What was the price of the house last year?
Choices:
A) $112,000
B) $114,000
C) $116,000
D) $118,000
E) $120,000
The price of the house last year was $140,000/1.25=$112,000   The answer is $112,000.
<result>A</result>
The price of a certain house this year is $140,000, which is 25 percent greater than the cost of the house last year. What was the price of the house last year?