A Statue For $670 Which Was A 35% Profit Over His Cost. How Much Did The Statue Originally Cost?
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$670 = cost + 35%(cost) = cost(1 + 35%) = cost(1 + .35)
$670 = 1.35*cost
$670/1.35 = cost = $496.30 (dividing both sides of the equation by 1.35)
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Check
cost = $496.30
35% of cost = profit = 35%(496.30) = $173.70 (if you round down)
$496.30 + $173.70 = $670.00
173.70/496.30 = 34.999%
$670 = 1.35*cost
$670/1.35 = cost = $496.30 (dividing both sides of the equation by 1.35)
_____
Check
cost = $496.30
35% of cost = profit = 35%(496.30) = $173.70 (if you round down)
$496.30 + $173.70 = $670.00
173.70/496.30 = 34.999%
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