The cost of rug was increase by 23%, and as a result now cost $553.50. What was the original price of the rug?

1.23x = 553.50

x = 553.50/1.23 = 450

check:
.23(450) = 103.50

450+103.50 = 553.50

thank you!

To find the original price of the rug, we can set up a simple equation. Let's call the original price "X". We know that the cost of the rug was increased by 23%, which can be written as 0.23X, and the new cost is $553.50.

So, the equation would be:

X + 0.23X = 553.50

To solve for X, we can combine like terms:

1.23X = 553.50

Next, we divide both sides of the equation by 1.23 to isolate X:

X = 553.50 / 1.23

Calculating this, we find that the original price of the rug was approximately $450.