Answer:
Last year's price was $12.50.
Explanation:
We'll use the variable x to represent last year's price. First, we have to set up an equation:
.60x + x = 13.25
We get this equation because $13.25 is 6% MORE than last year's price, meaning we need to add the original price to the increase. Next, we combine like terms and solve for x:
.06x + x = 13.25
1.06x=13.25
1.06 r 1 .06 = 13.25 1.06
=$12.50
Last year's price was $12.50.
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