<PRE><B>Question 1209424</B>
&lt;br&gt;
At first Peter paid 2/3 of what Bob paid.&lt;br&gt;
So let 2x and 3x, respectively, be the amounts that Peter and Bob paid originally.&lt;br&gt;
When Peter paid $46 more, he ended up paying 4/5 of what Bob paid.&lt;br&gt;
So Peter paid a total of 2x+$46, which is 4/5 of the 3x that Bob paid:&lt;br&gt;
{{{2x+46=(4/5)3x}}}
{{{10x+230=12x}}}
{{{2x=230}}}
{{{x=115}}}&lt;br&gt;
Originally, Peter paid 2x = $230 and Bob paid 3x = $345.  Then Peter paid $46 more, for a total of $230+$46 = $276.&lt;br&gt;
The cost of the present was then $276 + $345 = $621.&lt;br&gt;
ANSWER: $621&lt;br&gt;
</PRE>