Due to dwindling reserves of copper ore, the price of a 100-foot spool of copper wire increased 20% this year to $144. What was the old price (last year's price) for a 100-ft spool of wire?
$130
$145
$120
$115
1.2x = 144
x = ?
I have no idea what you mean.
It's a basic algebraic equation.
Let x = the original price. The price has increased by 120% which is 1.2
1.2 times x = 140
To solve for x, divide both sides of the equation by 1.2
Thank you for explaining.
To determine the old price (last year's price) for a 100-ft spool of copper wire, we can use the information given in the question.
The question states that the price increased by 20% this year to $144. Therefore, the price this year is 120% of the old price.
Let's assume the old price is represented by x.
We can set up the equation:
x + 0.2x = 144
Combining like terms, we have:
1.2x = 144
Next, we divide both sides of the equation by 1.2 to isolate x:
x = 144 / 1.2
Evaluating the expression on the right side, we find:
x = 120
Therefore, the old price (last year's price) for a 100-ft spool of wire was $120.
So, the correct answer is $120.