Question

Harry buys a garden set from his neighbor. Seeing that he already has a set of his own, he decides to refurbish the one he just bought and resell it. It cost him $64.65 to refurbish the set but unfortunately, he couldn't succeed in getting a good price for it. He is forced to resell it for $121.50 and in doing so he is left with a loss of $32.15. How much did Harry pay his neighbor for the set in the first place?

Answer 1

Let's assume the original price Harry paid to his neighbor for the garden set is 'x' dollars.

1. The cost of refurbishing the set: $64.65

2. The selling price of the refurbished set: $121.50

3. The loss incurred: $32.15

To calculate the amount Harry paid his neighbor (x), we can set up an equation based on the information given:

Original Price (x) - Cost of Refurbishment ($64.65) - Loss Incurred ($32.15) = Selling Price ($121.50)

x - $64.65 - $32.15 = $121.50

Now, let's solve for 'x':

x - $96.80 = $121.50

x = $121.50 + $96.80

x = $218.30

So, Harry paid his neighbor $218.30 for the garden set in the first place.