SOLUTION: The current price of a pound of coffee is 80% of last year’s price. If it now costs $3.00 per pound, what was the cost last year?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: The current price of a pound of coffee is 80% of last year’s price. If it now costs $3.00 per pound, what was the cost last year?       Log On


   

Question 97915: The current price of a pound of coffee is 80% of last year’s price. If it now costs $3.00 per pound, what was the cost last year?
Answer by rajagopalan(174) About Me  (Show Source):
You can put this solution on YOUR website!
Let the cost last year =x
Current price =0.8x
0.8x=3
x=(3/80)*100=15/4=3.75 $
Verify
Last year's price =3.75
Current price=3.75x0.80=3 $
OK