Question 924561: Hello, I am hoping someone will be able to help me with an Algebra problem I have.The question states, "A camera's selling price is $560. Find the cost if the profit is 40% of the cost." My understanding is that the variable, x, equals the cost. The 40% will be converted to a decimal. My question is, how would I solve this? Thank you so much in advance.
Found 2 solutions by Alan3354, MathTherapy:
Answer by Alan3354(69443)   (Show Source):
Answer by MathTherapy(10554)  (Show Source):
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Hello, I am hoping someone will be able to help me with an Algebra problem I have.The question states, "A camera's selling price is $560. Find the cost if the profit is 40% of the cost." My understanding is that the variable, x, equals the cost. The 40% will be converted to a decimal. My question is, how would I solve this? Thank you so much in advance.
Let cost price be C
The profit percent = 40, which makes the selling price, 140% of cost, or 1.4C
Since the selling price is ACTUALLY $560, then we can say that:
1.4C = 560
C, or cost =  , or $
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