(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 him?) I dont need the answer to it...I just want the formula to figure out a problem like this.
2007-09-22 05:09:42 · 7 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
If Original cost is x dollars, then
1.35 x = 670
2007-09-22 05:16:38 · answer #1 · answered by gitter1226 5 · 0⤊ 0⤋
I am not sure if I understand what kind of equation you want but this might help.
The price of the statue is 100% and the profit is 35% so puting them together makes the selling price wich is 135%
Then $670 is 135%
Next you need to know what is the 100%.
$670 ------135%
X ------ 100%
x= ($670)100% /135% (This might be your equation)
it means that
x is equal to the result of multiplying 670 by 100 and then diving this in 135
670 x 100 = 67000
67000 / 135
x= $496.30
A way to make sure this is the right answers is to get the value of X and then multiply it for 35% and add them. It should give you $670
Let's do it:
$496.30 x35% = 173.70 (profit)
496.29 + 173.70 = $ 670
YES! it is the right answer.
I hope Iit helps you.
2007-09-22 12:27:13 · answer #2 · answered by Helper 3 · 1⤊ 0⤋
originally cost + profit= $670
100% + 35% = $670
135% = $670
1% = ???
100% = ???
100% = originally cost
2007-09-22 12:17:12 · answer #3 · answered by harry m 6 · 0⤊ 0⤋
Let $670 be M and the profit be %.
Original price = M x (100 / %)
2007-09-22 12:14:50 · answer #4 · answered by Gaara of the Sand 3 · 0⤊ 0⤋
(selling cost) - (selling cost * % profit) = original cost
(670) - (670 * 0.35) = _____
2007-09-22 12:17:40 · answer #5 · answered by Anonymous · 0⤊ 1⤋
670 / 1.35 = 496.30
2007-09-22 12:28:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
There's no formula, its a simple percentage relation.
2007-09-22 12:17:36 · answer #7 · answered by ag_iitkgp 7 · 0⤊ 0⤋