Price Change

[Guest]

An item is currently priced at $3.69, with a price change of - 6.58 %. Determine original price.

Percent means a number represented as a fraction of 100

Unsure how to solve.

[Guest]

To determine the original price before the price change, we can use the formula:

Original Price = Current Price / (1 - Percentage Change)

Given that the current price is $3.69 and the percentage change is -6.58%, we can calculate the original price as follows:

Original Price = $3.69 / (1 - (-6.58%) / 100)
= $3.69 / (1 - (-0.0658))
= $3.69 / (1 + 0.0658)
= $3.69 / 1.0658
≈ $3.46

[Guest]

Thanks.

A question:

If the current price was after the price decrease, what was original price and same type formula used ?

[Guest]

Original Price = Current Price / (1 - Percentage Decrease)

In this case, the current price is $3.69, and the percentage decrease is 6.58%.

Converting the percentage decrease to decimal form, we get:

Percentage Decrease = 6.58% = 6.58 / 100 = 0.0658

Using the formula:

Original Price = $3.69 / (1 - 0.0658)
= $3.69 / 0.9342
≈ $3.95

[Guest]

Ok, Thanks again.