Jamie is saving money to buy a video game system. So far he has saved $16, which is 5% of the total cost of the system. What is the cost of the video game system.
To find the cost of the video game system, we need to set up an equation.
Let x be the total cost of the system.
We know that Jamie has already saved $16, which is 5% of the total cost. This means that 5% of x is equal to $16.
To solve this equation, we can convert the percentage to a decimal by dividing it by 100. So, 5% as a decimal is 0.05.
0.05x = $16
Now we can solve for x by dividing both sides of the equation by 0.05:
x = $16 / 0.05
x = $320
Therefore, the cost of the video game system is $320.
0.05x = 16
x = ?