SOLUTION: Last year Jose sold a painting for $2000. If he made 25% profit on the sale, how much had he paid for the painting?

Question 1202160: Last year Jose sold a painting for $2000. If he made 25% profit on the sale, how much had he paid for the painting?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Last year Jose sold a painting for $2000. If he made 25% profit on the sale, how much had he paid for the painting?
The fact that he made a profit shows that he bought it at less than $2000
Profit 25%
If he sells at $125 the purchase is at $100
He sold at $2000 ...................?
(2000/125) *100
= $1600
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