SOLUTION: You make a purchase for $670. You later found out you paid 30% over market value. What is the amount you should have purchased the item?
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Question 403263: You make a purchase for $670. You later found out you paid 30% over market value. What is the amount you should have purchased the item? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! You make a purchase for $670. You later found out you paid 30% over market value. What is the amount you should have purchased the item?
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Let the market price be "x".
Equation:
x + 0.30x = 670
1.3x = 670
x = $515.38
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Cheers,
Stan H.
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