Danielle likes to purchase items at estate sales, clean them up, then resale them online for a profit. She recently purchased an antique dresser with a mirror at an estate sale, cleaned it up, and advertised it for 250% of her purchase price. Danielle sold the dresser for $255, which was 15% less than the advertised price.
To the nearest whole dollar, how much did Danielle purchase the antique dresser for and what was her initial advertised price?
Responses
A purchase price: $117, advertised price: $293purchase price: $117, advertised price: $293
B purchase price: $120, advertised price: $300purchase price: $120, advertised price: $300
C purchase price: $130, advertised price: $325purchase price: $130, advertised price: $325
D purchase price: $108, advertised price: $270
The correct response is D) purchase price: $108, advertised price: $270
To find the purchase price, we divide the selling price of $255 by 0.85 (for 15% less) to get $300. Then, we multiply $300 by 0.25 (for 250% of the purchase price) to get $75. Subtracting $75 from $300, we get the purchase price of $225. Since Danielle sold the dresser for $255, the initial advertised price must have been $270.