Let $P$ the original price, $d=15\%$ the first reduction rate, $i=5\%$ the increaing rate and $S=1606.60$ the final price.
You have that $P$ is reducted to $P(1-d)=P'$ and then is increased to $P'(1+i)=S$; thus $$ S=P(1-d)(1+i)\Longrightarrow P=\frac{S}{(1-d)(1+i)}=\frac{1606.60}{(0.85)(1.05)}=1800 $$