Answer:
The current price is Tk. 3750
Step-by-step explanation:
Given:
[tex]\%\ Increase = 20\%[/tex]
[tex]New\ Price = Tk.\ 4500[/tex]
Required
Determine the current price
Percentage increment is calculated using the following formula:
[tex]\%\ Increase = \frac{New - Old}{Old}[/tex]
In this case, we have:
[tex]\%\ Increase = \frac{New\ Price - Old\ Price}{Old\ Price}[/tex]
Substitute values for % increase and New Price
[tex]20\% = \frac{4500 - Old\ Price}{Old\ Price}[/tex]
Cross Multiply
[tex]20\% *Old\ Price= 4500 - Old\ Price[/tex]
Convert percentage to decimal
[tex]0.20*Old\ Price= 4500 - Old\ Price[/tex]
Collect Like Terms
[tex]Old\ Price+0.20*Old\ Price= 4500[/tex]
Factorize:
[tex]Old\ Price(1+0.20)= 4500[/tex]
[tex]Old\ Price(1.20)= 4500[/tex]
Solve for Old Price
[tex]Old\ Price= \frac{4500}{1.20}[/tex]
[tex]Old\ Price= 3750[/tex]
Hence, the current price is Tk. 3750
