Answer: $80
Step-by-step explanation:
Let the original price of the refrigerator be represented by y.
We are told that an appliance store reduced the price of a refrigerator by 20%. This will be:
= y - (20% of y)
= y - (20/100 × y)
= y - (0.2 × y)
= y - 0.2y
= 0.8y
We are then told that the store then raised the prices by 10% from the lower price. This will be:
= 0.8y + (10% of 0.8y)
= 0.8y + (0.1 × 0.8y)
= 0.8y + 0.08y
= 0.88y
Since we told that now the price was $70.49, this means that we have to find the value of y using the above expression. This will be:
0.88y = $70.49
y = $70.49/0.88
y = $80.10
y = $80 approximately
The original price of the refrigerator is $80.
