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vitaminZ
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Homework Statement
Q1. A shop's normal price for a camera is $175. If prices are temporarily reduced by 7.5%, what is the new price of the camera?
Q2. In a sale, a shop reduces its prices by the amount of the VAT on each item. If VAT is 17.5%, what is the percentage price reduction? (Hint: The answer is not 17.5%)2. The attempt at a solution
Q1. 7.5+100 /100 = 1.075
$175 /1.075 = $162.79
Q2.
I assume item x = $100
VAT = 17.5% of $100 = $17.5 on that item
To find price before VAT = 100+17.5 /100= 1.175
100 /1.175= $85.11
100-85.11 = $14.89
I don't know how to find the "percentage price reduction". The reduction in absolute terms seems to be $14.89 on a $100 item. And I know Q1 is wrong too. I don't know how to solve questions that are worded in english like this.
Please help.