Question

Wally Chin, the owner of an ExxonMobil station, bought a used Ford pickup truck, paying $1,500 as a down payment. He still owes 85% of the selling price. What was the selling price of the truck?

Answer 1

Hello

He payed $1500 as down payment but still owes 85% of the cost of the truck

Let the cost of the truck be represented by y

`\begin{gathered} y-1500=(85)/(100)(y) \\ y-1500=0.85y \end{gathered}`

Collect like terms

`\begin{gathered} y-1500=0.85y \\ y-0.85y=1500 \\ 0.15y=1500 \end{gathered}`

Divide both sides by the coefficient of y

`\begin{gathered} (0.15y)/(0.15)=(1500)/(0.15) \\ y=10,000 \end{gathered}`

From the calculation above, the cost of the truck is $10,000