Answer:
$200
Explanation:
Let p represent the price last year. Then the price this year is ...
... (price this year) = p + 15%×p
... = p + 15/100×p = 1.15p
The price after the employee discount is ...
... (price this year) - 25%×(price this year)
... = (price this year)×(1 - 25/100) = 0.75×(price this year)
Then the price paid is ...
... $172.50 = 0.75×(1.15p) = 0.8625p
Dividing by the coefficient of p, we have
... $172.50/0.8625 = p = $200
The price last year was $200.
