SOLUTION: A company sold some equipment for $1950. This was 30% more than they paid for the equipment. What did the company pay for the equipment?

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Question 1151875: A company sold some equipment for $1950. This was 30% more than they paid for the equipment. What did the company pay for the equipment?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!

x = original price
30% of x = 0.30*x
x + 0.30x = 1.30x = markup price = 1950

1.30x = 1950
1.30x/1.30 = 1950/1.30 .... divide both sides by 1.30
x = 1500

Answer: The original price was $1,500

Check:
Apply 30% to this
30% of 1500 = 0.30*1500 = 450
Add this to the original price
1500+450 = 1950
This is a longer way compared to calculating
1.30*x = 1.30*1500 = 1950
Either way the answer is confirmed