The price of a product increased 17 percent. The increase brought the price up to $1,000. How much did the product originally sell for?

Answer 1

Let X be the original price of the product.

After a 17% increase, the new price is calculated as: X + 0.17X = $1000
Solving for X: 1.17X = $1000
X = $1000 / 1.17
X = $854.70

Therefore, the product originally sold for $854.70.