SOLUTION: PLEASE HELP ME SOLVETHIS: If A Trader Gains 15% by Selling An Article For $1560.00, What Is The Cost Price

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Question 1147406: PLEASE HELP ME SOLVETHIS: If A Trader Gains 15% by Selling An Article For $1560.00, What Is The Cost Price
Found 2 solutions by rothauserc, MathTherapy:
Answer by rothauserc(4718) (Show Source):
You can put this solution on YOUR website!
0.15 * 1560 = 234
:
Cost Price to the trader = 1560 - 234 = $1326
:

Answer by MathTherapy(10552) (Show Source):
You can put this solution on YOUR website!

PLEASE HELP ME SOLVETHIS: If A Trader Gains 15% by Selling An Article For $1560.00, What Is The Cost Price

A GAIN of 15% means that the selling price is 115%, or 1.15, which is also represented by $1,560
With cost price being P, and since 100% (cost) is being sought, we set up the following PROPORTION:
Solve this for P, by first cross-multiplying, to obtain the cost price.
FYI: It's definitely NOT $1,326, according to the other person.