At a clearance sale, everything has been marked down 17%. How much did a car originally sell for if its current price is $12,952.99? $10,750.98 $15,155.00 $15,606.01 $17,357.01
At a clearance sale, everything has been marked down 17%. How much did a car originally sell for if its current price is $12,952.99? $10,750.98 $15,155.00 $15,606.01 $17,357.01
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
At a clearance sale, everything has been marked down 17%. How much did a car originally sell for if its current price is $12,952.99?
$10,750.98
$15,155.00
$15,606.01
$17,357.01
Expert Solution
Step 1
Here it is given that the current price is offer after the car is 17% Marked down.
Then Assuming the Original price of Car is = 100
Less: Marked Down 17% = 17
Current Price after marked down = 83
If Current Price is 83 Then we can calculate the original price = (Current Price x 100)/ Current Price after marked down
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