Question

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? How do you find the answer to this?

Answer 1

You can use this equation with C equaling his cost.

C = 0.65 * 670

Answer 2

not quite.

the original cost was 670/1.35 = 496.30

Proof:
35% of 496.30 = 173.70

so profit percentage = 173.70/496.30 = 0.35 = 35%

Answer 3

Thanks, Reiny, for the correction.