Question

The price of a new pair of shoes just increased by 15%. If the new price is $92, what was the old price?

A. $13.80. B. $78.20 C. $80.00 D. $. 105.80

Answer 1

$80

Explanation:

After the price has been marked up by 15 percent, the total percentage 92 dollars is worth based on the original price (not marked up) is 115 percent (100% +15%).

Hence, to find the original price (old price) of 100 percent, you divide 92 dollars by 115 units and multiply 100 to the final value to get 100 percent, assuming 1 unit price = 1 percent.

`(92)/(115) * 100 = 80`