Sequences and series question?

At a a local grocery store, the bananas they receive go through three stages:


from the farmer to the market, market to the wholsaler,


and from the wholsaler to the grocery store.


At each stage, the price of the bananas increase by 20% of the previous price.


If a person buys 80cents worth of bannas at the grocery store,


how much was the farmer paid for those bananas?|||Let x denote the amount (in cents) that the market pays the farmer for the bananas.





Then 1.2x is what the wholesaler pays the market, 1.2(1.2x) = 1.44x is the amount the grocery store pays the wholesaler, and 1.2(1.44x) = 1.728x is what the buyer pays the grocery store.





1.728x = 80


x = 80/1.728 鈮?46.3 cents