Question

37) After a 9% price reduction, a boat sold for $27,300. What was the boat's price before the reduction?

(Round to the nearest cent, if necessary.)
A) $30,000
B) $303,333.33
C) $2457.00
D) $29,757.00

Answer 1

The original price of a boat before a 9% reduction that resulted in a sale price of $27,300 is $30,000. This is found by dividing $27,300 by 0.91, which represents 91% of the original price. Therefore correct option is A

Step-by-step explanation:

The question is asking to find the original price of a boat before a 9% price reduction. Since the boat sold for $27,300 after the reduction, this means that $27,300 is 91% of the original price.

To find the original price, we can set up the following equation:

Original Price × (1 - 0.09) = $27,300

Original Price × 0.91 = $27,300

Original Price = $27,300 / 0.91

Original Price = $30,000

Therefore, the correct answer is A) $30,000.