An appliance store reduced the price of a refrigerator by 20% and then raised the prices by 10% from the lower price. What was the original price of the refrigerator, if the price was $70.49?

Answer: $80

Step-by-step explanation:

Let the original price of the refrigerator be represented by y.

We are told that an appliance store reduced the price of a refrigerator by 20%. This will be:

= y - (20% of y)

= y - (20/100 * y)

= y - (0.2 * y)

= y - 0.2y

= 0.8y

We are then told that the store then raised the prices by 10% from the lower price. This will be:

= 0.8y + (10% of 0.8y)

= 0.8y + (0.1 * 0.8y)

= 0.8y + 0.08y

= 0.88y

Since we told that now the price was $70.49, this means that we have to find the value of y using the above expression. This will be:

0.88y = $70.49

y = $70.49/0.88

y = $80.10

y = $80 approximately

The original price of the refrigerator is $80.