SOLUTION: HI - I can't seem to figure this one out: The current cost of an item is $837, which is a 37% increase over the prior year's cost. What was the prior year's cost? I set up an

Question 34273: HI - I can't seem to figure this one out:
The current cost of an item is $837, which is a 37% increase over the prior year's cost. What was the prior year's cost? I set up an equation:
(C+(C*37%)=837)
But, can't get the correct answer. By doing a guess and check, i know the answer is $610.95, but can't get there algebraically. HELP! And thanks!
Answer by fanism(39) (Show Source): You can put this solution on YOUR website!
why would you use (C+(C*37%)=837)?
it should be C*(1+37%)=837
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