Question

Due to dwindling reserves of copper ore, the price of a 100-foot spool of copper wire increased 20% this year to $144. What was the old price (last year's price) for a 100-ft spool of wire?
$130
$145
$120
$115

Answer 1

1.2x = 144
x = ?

Answer 2

I have no idea what you mean.

Answer 3

It's a basic algebraic equation.

Let x = the original price. The price has increased by 120% which is 1.2

1.2 times x = 140

To solve for x, divide both sides of the equation by 1.2

Answer 4

Thank you for explaining.