SOLUTION: I dont know how to solve. A dealer raises the price of a P24 000-air conditioning unit by 12.5%. To restore the previous price, he must reduce the new price by what percent?

Question 922363: I dont know how to solve. A dealer raises the price of a P24 000-air conditioning unit by 12.5%. To restore the previous price, he must reduce the new price by what percent?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A dealer raises the price of a P24 000-air conditioning unit by 12.5%. To restore the previous price, he must reduce the new price by what percent?
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original price:: x
after raise:: 1.125x
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Equation::
(1.125x)*k = x
k = x/(1.125x)
k = 1/1.125
k = 0.888888...
Ans: 88.89%
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cheers,
Stan H.
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