SOLUTION: 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?

Algebra ->  Algebra  -> Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: 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?      Log On

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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?
Answer by jojo14344(1512) About Me  (Show Source):
You can put this solution on YOUR website!
Remember:
OldPrice=OP
New+Price=NP
NP=OP-15%OP
NP=OP%281-0.15%29 -------------> NP=OP%280.85%29
cross%28125000%29147058.82%2Fcross%280.85%29=OP%2Across%280.85%29%2Fcross%280.85%29
$147058.82=Old Price
Savings:
=%28OP-NP%29%2FOP
=%28147058.82-125000%29%2F%28147058.82%29%2A100
=15% -----------> you're savings (as stated anyway in the problem)
Thank you,
Jojo