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?

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Answer 1 · 2018-06-08T19:18:38

The original cost was #$496.30#

This is an example of reverse percentage, where the final value is known, but not the original value which is #100496.3)#

The price of #$670# represents #135%# and we want to know the original price which is #100%#.

Use direct proportion to compare the costs to the percentage.

#x/100=670/135" "(larr"dollars")/(larr"percent")#

#x = (670xx100)/135#

#x= $496.30#