Problema Solution
Jay Miller sold his ski house at Attitash Mountain in New Hampshire for $281,000. This sale represented a loss of 9% off the original price. What was the original price Jay paid for the ski house?
Answer provided by our tutors
If there was a 9% loss, this means that 281,000 is 91% (from 100-9) of the original price. We can write:
.91n=281,000
where 'n' is the original price.
Solving for 'n', we get:
n= $308,791.209