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Let x be the number of bottles of olive oil.

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The cost of one bottle of olive oil is 7 dollars.

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The cost of x bottles of olive oil is 7x dollars.

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The cost of coupon for discount is 5 dollars.

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The total cost, excluding the discount is 16 dollars.

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Therefore, the above situation represent the equation is \"\".\"\"

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Solve the equation \"\" for x.

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Add 5 to each side.

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\"\"

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\"\"

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Divide each side by 7.

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\"\"

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Cancel common terms.

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\"\".\"\"

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The number of bottles of olive oil is 3.