Chapter 7, Problem 12CR

To determine

Find the original price of the record.

Answer to Problem 12CR

So, the original price of the record is $7.95\$$.

Explanation of Solution

Given information:

Monty saves $20\%$ on buying a record.

Buying price of the record $\$6.36$.

Monty saves $20\%$ on the price of record, therefore Monty buys the record for $80\%$.

Since the purchasing price of record is $\$6.36$ it is equivalent to $80\%$.

Let the original price of the record be $x$.

So, the purchasing price $\$6.36$ will be equivalent to $80\%$ of $x$ :

  $\begin{array}{l}\frac{80}{100}\times x=6.36\\ x=\frac{636}{80}\\ \boxed{x=7.95\$}\end{array}$

So, the original price of the record is $7.95\$$.