Problema Solution
Jim is able to sell a hand-carved statue for $670 which was 35% profit over his cost. How much did the statue originally cost him?
Answer provided by our tutors
Let x be the original amount.
To that you add 35% of x --> 0.35x
The new amount is $670
Write an equation:
x + (0.35)x = 670
(1 + 0.35)x = 670
1.35x = 670
x = 670/1.35
x ≈ 496.30
Answer:
A. $496.30