SOLUTION: Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?
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Question 315205: Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?
Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?
.
Let x = original cost
then
x + .35x = 670
x(1 + .35) = 670
1.35x = 670
x = 670/1.35
x = $496.30
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