SOLUTION: Jim has sold a hand-carved wooden statue for $670, making a 35% profit. How much did it cost Jim to make the statue?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Jim has sold a hand-carved wooden statue for $670, making a 35% profit. How much did it cost Jim to make the statue?      Log On


   

Question 85723: Jim has sold a hand-carved wooden statue for $670, making a 35% profit. How much did it cost Jim to make the statue?
Answer by checkley75(3666) About Me  (Show Source):
You can put this solution on YOUR website!
1.35x=670
x=670/1.35
x=496.30 is the price before the profit.
proof
496.30+.35*496.30=670
496.30+173.70=670
670=670