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?
Algebra ->
Proportions
-> Lessons
-> 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?
Log On
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
