Hi.
We don't know the original price of the sofa (we only know its price now, after it was lowered), so we're going to use the letter "x" to stand for the original price. We know that the price now is 76 percent less than that original price. Well, if the price now is 76 percent less than what it originally was, it must be 24 percent of the original price because 100 - 76 = 24.
In other words, 24 percent of the original price is equal to the price now, or $158.40
So we can write an equation that looks like this:
0.24x = $158.40. Divide each side by 0.24 to get "x" alone
x = $660
The original price of the sofa was $660.00.