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?

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Question 252466: 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?
Found 2 solutions by richwmiller, drk:
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
1.35x=670
=cost plus profit
x=496.30 original cost

Answer by drk(1908) About Me  (Show Source):
You can put this solution on YOUR website!
Let the cost be C.
35% over cost is 1.35C.
This is equal to $670.
So we have
1.35C = 670.
By division, we get C = $496.30.
AS a check: 496.30 x 1.35 = 670.005