Answer: The original cost is $65,000
Step-by-step explanation:We know that 66,300 is the cost after a 2% increase, and that means 66,300 is 102% of the original cost. Set up something like this:
102/100 = 66,300/?
The numerator represents the new cost and the denominator represents the original cost. The ? is the unknown, the original cost that we are looking for. Use equivalent fractions to solve for the unknown. After cross multiplying, you will find that ?=65,000.
