SOLUTION: Due to dwindling reserves of copper ore, the price of a 100-foot spool of copper wire increased 20% this year to $144. What was the old price (last year's price) for a 100-ft spool

Algebra ->  Divisibility and Prime Numbers -> SOLUTION: Due to dwindling reserves of copper ore, the price of a 100-foot spool of copper wire increased 20% this year to $144. What was the old price (last year's price) for a 100-ft spool      Log On


   

Question 301406: Due to dwindling reserves of copper ore, the price of a 100-foot spool of copper wire increased 20% this year to $144. What was the old price (last year's price) for a 100-ft spool of wire?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
The old price plus 20% is equal to the new price.
OP%281%2B20%2F100%29=NP
OP%281.2%29=144
OP=144%2F1.2
OP=120
The old price was $120.