Computing a percentage discount

Reference no: EM13130485

I received stock at a 15% discount to the Fair Market Value, what was the Fair Market Value?

I know the discounted value of the stock and I want to know what the value of the stock was before the discount. The stock was discounted 15%.

x= Fair Market Value of the stock before discount (I want to know this)

y = discounted value of stock (I know this)

think the equation is some thing like this x = y + (x * .15)

example
x=40.77
y=34.65

40.77 = 34.65 + (40.77 * .15)

how do I solve for x ?

Reference no: EM13130485

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