After a 16% increase, the price of a pair of running shoes is $40.60, what was the old price of the shoes?
Yes, $35.
35$
1.16p = 40.60
35?
To find the old price of the shoes, we need to first determine the value before the 16% increase.
Let's assume the old price as 'x'.
Since the price increased by 16%, the new price is 100% + 16% = 116% of the old price.
So we can set up the following equation:
116% of x = $40.60
To solve for x, we need to convert 116% to decimal form by dividing it by 100:
1.16x = $40.60
Now, we can isolate x by dividing both sides of the equation by 1.16:
x = $40.60 / 1.16
Evaluating the expression:
x ≈ $35
Therefore, the old price of the running shoes was approximately $35.