Carving Set
4
Mar/100
Mar/100
Does anyone know how to set up a formula for this percent problem?
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 know the answer but it took me too long to figure it out. I need to know how to set up a formula to arrive at the answer more easily.
cost + profit = sale price
cost * 135% = $670
cost * 1.35 = 670
cost = 670/1.35
cost = $496.30
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