A car dealer, at a year-end clearance, reduces the list price of last year's models by 15 percent. If a certain four-door model has a discount price of 8000 dollars, find its list price.
Also, how much can be saved by purchasing last year's model?
What is a list price?
List Price is the price in the List. If the cars are brand new in the List, then list price is the price of the brand new cars as shown on the List. Or, list price is price without discount yet.
Originally Posted by symmetry
If the list price is reduced by 15 percent, then the sale price now is 85 percent of the list price.
So, if x is the list price of the four-door model, then
85 percent of x = 8000
0.85x = 8000
x = 8000/0.85
x = $9411.76 ----------------answer.
If the list price were $9411.76, and you have to pay only $8000 because the car is a year old, then you can save
$9411.76 -$8000 = $1411.76 -------------answer.
(That is the same as the 15 percent reduction of the list price. That is
0.15 * $9411.76 = $1411.76)
I like your in-depth explanation.