The price of a bag was increased by 20% and the new price is $120. What was the original price of the bag?
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Worked Solution
Step 1: Recognise that after a 20% increase, the new price represents 120% of the original.
Original price = 100%
New price = 100% + 20% = 120%
Step 2: Find the value of 100% (the original price).
120% → $120
1% → $120 ÷ 120 = $1
100% → $1 × 100 = $100
Final answer: The original price of the bag was $100.
Check: $100 × 1.20 = $120 ✓
Answer: $100
Correct answer: $100
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