SOLUTION: I marked an item up 20% and now the new price is $150. How do I find the original price?

SOLUTION: I marked an item up 20% and now the new price is $150. How do I find the original price?

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Question 660507: I marked an item up 20% and now the new price is $150. How do I find the original price?
Answer by kevwill(135) (Show Source): You can put this solution on YOUR website!
Let x be the original price of the item. Marking it up 20% is the same as adding 20% of the original price, so we have:

Combining terms:

Dividing both sides by 1.20:

The original price of the item was $125.

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