SOLUTION: i have been working on this problem have done it several ways and just dont understand it. please explain exactly how to do this. the price of an mp3 player decreased 20% from last

Question 960714: i have been working on this problem have done it several ways and just dont understand it. please explain exactly how to do this. the price of an mp3 player decreased 20% from last year to this year. this year the price of the player $120. what was the price next year? i have done this problem long hand and tried to divide both the percent and the @ amount by have then kept adding up till i got to 50% then doubled that and stil didnt get it then i tried taking x= last years price/ .2 for 20% =$120 but still came up wrong
Answer by rothauserc(4718) (Show Source): You can put this solution on YOUR website!
Let x be the price of an mp3 player last year, then
x - .2x = 120
.8x = 120
x = 120 / .8
x = 150
The price of the mp3 player LAST YEAR is $150
*********************************************
If we assume the same .20 decrease for NEXT YEAR, the cost of the mp3 player will be 120 - 24 = $96
***********************************************
not sure if you want price of mp3 player LAST YEAR or NEXT YEAR?

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