In a price problem, the last step is to divide the net to be received by the decimal found in step 2. If the net to be received is $68,000 and the decimal from step 2 is 0.68, what is the final price?

In a price problem, the last step is to divide the net to be received by the decimal found in step 2. If the net to be received is $68,000 and the decimal from step 2 is 0.68, what is the final price?

• A. $100,000
• B. $68,000
• C. $50,000
• D. $70,000

Answer: (A)

When the net amount you receive is a percentage of the final price, find the full price by dividing the net by that decimal. Here, 0.68 means 68% of the final price is what you get. So the final price equals 68,000 ÷ 0.68. Compute: 0.68 is 68/100, so 68,000 ÷ 0.68 = 68,000 × (100/68) = (68,000/68) × 100 = 1,000 × 100 = 100,000. The final price is $100,000.

When the net amount you receive is a percentage of the final price, find the full price by dividing the net by that decimal. Here, 0.68 means 68% of the final price is what you get. So the final price equals 68,000 ÷ 0.68.

Compute: 0.68 is 68/100, so 68,000 ÷ 0.68 = 68,000 × (100/68) = (68,000/68) × 100 = 1,000 × 100 = 100,000.

The final price is $100,000.