SOLUTION: Janie sold her diamond necklace for $560, which was 12% more than what she originally paid for it. How much was the original price?

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Question 1522: Janie sold her diamond necklace for $560, which was 12% more than what she originally paid for it. How much was the original price?
Answer by AnlytcPhil(1116) About Me  (Show Source):
You can put this solution on YOUR website!
Janie sold her diamond necklace for $560, which was 12% more than what she
originally paid for it. How much was the original price?
`
` ` ` ` ` `Let x = the original price.
`
>>...$560...was 12% more than what she originally paid for it...<<
`
Tranlation: $560 = original price + 12% of original price, or
`
` ` ` ` ` ` `560 = x + 0.12x
`
Write x as 1.00x to make it clearer:
`
` ` ` ` ` ` `560 = 1.00x + 0.12x
` ` ` ` ` ` `560 = 1.12x
`
Divide both sides by 1.12
` ` ` ` ` `560%2F1.12 = x
`
` ` ` ` ` ` ` `x = 500
`
So the original price was $500.
`
Edwin