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 450050: 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?

Found 2 solutions by nerdybill, solver91311:
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
x(1.35) = 670
x = 670/1.35
x = $426.30
Answer by solver91311(24713)   (Show Source): You can put this solution on YOUR website!


He started with some amount, call it . He multiplied times 35% or rather 0.35. Then he added the result to the original amount, to arrive at a sale price of $670.







You can do your own arithmetic.

John

My calculator said it, I believe it, that settles it
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