Final answer:
Jay Miller sold his ski house for $35,000 at a 15% loss. By dividing the sale price by 0.85, which represents the remaining 85% after the loss, the original price is calculated to be approximately $41,176.47.
Step-by-step explanation:
When Jay Miller sold his ski house at Attitash Mountain for $35,000, which was a 15% loss off the original price, we need to calculate what the original price was before the loss. The selling price represents 85% of the original price (100% - 15% = 85%). To find the original price, we use the formula:
Original Price = Sale Price / (1 - (Loss % / 100))
So, in this case:
Original Price = $35,000 / 0.85
When we calculate this, we will find the original price Jay paid for the ski house.
Calculation:
Original Price = $35,000 / 0.85
Original Price = $41,176.47
Hence, Jay Miller's original price for the ski house was approximately $41,176.47.