SOLUTION: The price of a mountain bike increased by 20% in the past year. The new value is %150. What was the value of the mountain bike last year?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: The price of a mountain bike increased by 20% in the past year. The new value is %150. What was the value of the mountain bike last year?      Log On


   

Question 1137684: The price of a mountain bike increased by 20% in the past year. The new value is %150. What was the value of the mountain bike last year?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x+ = cost of bike last year
+1.2x+=+150+
+x+=+125+
Last year it cost $125