SOLUTION: a company reduced the price of an article by 5%.By how much% a retailer must increase the new price so as to sell the article at the old price?

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Question 993062: a company reduced the price of an article by 5%.By how much% a retailer must increase the new price so as to sell the article at the old price?
Answer by vleith(2983) About Me  (Show Source):
You can put this solution on YOUR website!
Let the original price be X
You are told the supplier lowered their costs by 5%. So the item now costs 95% of its original cost.
How much must the retailer raise their price? Let that number be Y
X+%2A+0.95+%2A+Y+=+X
0.95Y+=+1
Y+=+1%2F0.95
Y+=+1.053
So the retailer must raise their price by (1.053 - 1) * 100% = 5.3%