A builder of tract homes reduced the price of a model by 15%. If the new price is $425,000, what was it's original price? How much can be saved by purchasing thr model?

Step-by-step explanation:

Let x represent the original price of the model.

A builder of tract homes reduced the price of a model by 15%. This means that x was reduced by 15%. The amount by which x was reduced would be

15/100 * x = 0.15 * x = 0.15x

The new price would be

x - 0.15x = 0.85x

If the new price is $425,000, then it means that

0.85x = 425000

x = 425000/0.85

x = $500000

The amount that can be saved by purchasing the model at the new price would be

500000 - 425000 = $75000