Increased price is: $230.00
Percent increase is: 15%
What was the original price?
Having trouble with how to setup equation to solve problem.
0.15x=230
Transferring into words:
15% of the original price is equal to 230 dollars.
Say the original price was x
then x + 15% of x is $230
or
1.15 x = 230
To find the original price, you can set up an equation using the information given. Let's call the original price "P".
The equation can be set up as follows:
P + (15/100)P = $230.00
To explain this equation setup:
- The expression '15/100' represents the fraction for the percent increase, which is 15%.
- Multiplying this fraction by the original price 'P' gives the amount of increase.
- Adding this increase to the original price 'P' gives the final increased price, which is $230.00.
Now, let's solve the equation to find the value of 'P' (the original price):
P + (15/100)P = $230.00
Combining like terms on the left-hand side:
(1 + 15/100)P = $230.00
Simplifying the left-hand side:
(1.15)P = $230.00
To isolate 'P', divide both sides of the equation by 1.15:
P = $230.00 ÷ 1.15
Evaluating this expression:
P ≈ $200.00
Therefore, the original price was approximately $200.00.