Question 1208698
<pre>
A builder of tract homes reduced the price of a model by 15%. If the new price is $425,000, what was its original price? How much can be saved by purchasing the model?

All throughout my time with math (all my life), setting up the right equation using the given data in word problems has been a major personal frustration. 

Here is my effort, which is wrong.

Price of model = x

Reduced by 15% = x - 0.15

Equate to new price:

x - 0.15 = 425,000

This is obviously and miserably wrong. 
I know there is a general equation or formula for finding the original price of items. However, let's say you are taking a test and came across this question. You don't know if there is a general equation or formula that can be used to find the original price. How would you approach this problem to find the correct answer?

You have the right idea, but made a small error, which obviously led to an incorrect <font color = red><font size = 3><b>EQUATION, which would have
led to an incorrect answer</font></font></b>.

Here is my effort, which is wrong.
Price of model = x
Reduced by 15% = x - 0.15 <font color = red><font size = 3><b><==== ERROR here! A reduction of 15% on a price of "x" results in a REDUCED PRICE
                                 of x - 15% of x = x - .15x</font></font></b>  
Equate to new price:
x - 0.15 = 425,000 <font color = red><font size = 3><==== Equating to NEW REDUCED PRICE will yield the following CORRECT equation:
                         x - .15x = 425,000.</font></font></b></pre>