Question

The average cost of a 1 minute commercial on a leading network channel was 146,000 in the fall of 1999. This was a 8% decrease from the the cost a year earlier. What was the cost of a 1 minute commercial on the channel in the fall of 1998?

Answer 1

8% less ----> 100% - 8% = 92% or .92

.92x = 146000
x = 146000/.92 = $158,695.65