luisa paid 45 dollars for a book. the price increased 4% from last year. what was thr old selling price of the book

Question

Can someone explain to me hown to solve this?

Answer 1

Bryan, if we add 4%, our new price is 104% of last year's.

 

1.04p = 45

p = 43.27

 

Note, adding 4% to last year's price does NOT mean last year's price was 96% of this year's.

 

.96(45) = 93.2

 

You can see the two answers are 7 cents apart.