Answer:
To find out by how much the price was reduced, we can use the following equation:
price reduction = original price * reduction percentage
We know that the price reduction is £264 and the reduction percentage is 17.5%, so we can plug those values into the equation to get:
price reduction = £264 / 17.5%
To solve this equation, we need to express the percentage as a decimal. We can do this by dividing the percentage by 100:
price reduction = £264 / (17.5 / 100)
This simplifies to:
price reduction = £264 / 0.175
Solving this equation gives us a price reduction of £1512.
So, the original price was reduced by £1512.
Explanation: