Questions on Word Problems: Linear Equations And Systems Word Problems answered by real tutors!

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Question 153277: A builder of tract homes reduced the price of a model by 15%. If the new price is $125,000, what was its original price? How much can be saved by purchasing the model?: A builder of tract homes reduced the price of a model by 15%. If the new price is $125,000, what was its original price? How much can be saved by purchasing the model?
Answer by jojo14344(880) About Me  (Show Source):
You can put this solution on YOUR website!
Remember:
OldPrice=OP
New Price=NP
NP=OP-15%OP
NP=OP(1-0.15) -------------> NP=OP(0.85)
cross(125000)147058.82/cross(0.85)=OP*cross(0.85)/cross(0.85)
$147058.82=Old Price
Savings:
=(OP-NP)/OP
=(147058.82-125000)/(147058.82)*100
=15% -----------> you're savings (as stated anyway in the problem)
Thank you,
Jojo