document.write( "Question 24696: If Jim sells a statue for $670 which is a 35% profit over cost, how much did the statue originally cost him? I've been out of school along time and now I need to study for a parapro standardized test and I have no clue how to set this problem up. Please Help! \n" ); document.write( "
Algebra.Com's Answer #13176 by josmiceli(19441) You can put this solution on YOUR website! Let c = Jim's cost for the statue \n" ); document.write( "35% profit OVER cost could have been worded 35% profit PLUS cost. I find \n" ); document.write( "that less confusing \n" ); document.write( "(1 + .35) * c gives me c + (.35) * c which is Jim's cost plus his 35% profit \n" ); document.write( "1.35 * c = 670 \n" ); document.write( "c = 670 / 1.35 \n" ); document.write( "c = 496.29 \n" ); document.write( "that's a strange answer. Maybe I messed up, but I think the method is OK \n" ); document.write( " |