After a 17% price reduction, a boat sold for $24,070. What was the boat's price before the reduction? (Round to the nearest cent

Answer 1

The price $24070 actually represents 83% of the original price (100% - 17% = 83%).

As a result, we to answer the question: $24070 is 83% of what number?

This can be accomplished by solving the following equation:

0.83 • x = 24070

x = 24070 ÷ 0.83

x = $29000

The original price was $29000.

(NOTE: 17% of $29000 is 4930 and 29000 - 4930 = 24070. The amount saved is $4930.)