Question

a lounge is sold making a 15% profit on the cost price. If the lounge was sold for $1495 , what is the wholesale price?

Answer 1

Take the sale price and divide by 115 as that's the percentage of the sale price including the 15%
$1495/115=$13
then times that by 100 to find just the wholesale price without the added profit
$13*100=$1300
That will be the price without the profit

Answer 2

$1495 ÷ 1.15 (that's 115%)
= $1300

there's your wholesale price.

we can check it to make sure it's correct:
$1300 × 1.15 = $1495