Question 196814
jim is able to sell a statue for 670.00 which was a 35% profit. How much did the supplies cost him? I am thinking my work sheet is wrong..it tells me the answer is A.$496.30. 65% of 670=435.50 ??right and 35% of 670.00 is 234.50? Please help.
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A is the correct answer:
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Equation:
x + 0.35x = 670
1.35x = 670
x = 670/1.35
x = $496.30
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This is the cost of the statue before Jim added 35% to 
the cost so he would make a profit.
The problem is wrong to say this is the cost of the 
supplies.
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Cheers,
Stan H.