# Thread: [SOLVED] Correct Method To Get To Cost Price

1. ## [SOLVED] Correct Method To Get To Cost Price

If You Know The Answer, If You Could Please Show Your Steps Of Working?? Thanks.

Problem:
Jake sells his car for $3500. He makes 20% profit. What was the price Jake bought the car for? 2. Originally Posted by .Twilighted. If You Know The Answer, If You Could Please Show Your Steps Of Working?? Thanks. Problem: Jake sells his car for$3500. He makes 20% profit. What was the price Jake bought the car for?
$P+B=3500$

the percentage(interest) + the original price(base) = $3500 remember the to find the original price divide the percentage by the rate. $B=\frac{P}{R}$ to find the percentage multiply rate by the original price $P=\frac{R}{B}$ $P+B=3500$ substitute P with R*B. interms of rate and base $R*B+B=3500$ $0.20*B+B$ $1.20B=3500$ $B=\2916.66$ original price check $\2916.66*.20=583.33$ = P $B+P=\3500$ $\2916.66+583.33=\3499.99$ or $\3500$ this is how i solved it, the original price is $\2916.66$ 3. Wow.Thanks. I Had Gotten$2916 First But I Had Just Played Around With Numbers And I Didn't Know The Way To Get To The Answer.
Your Help Is Much Appreciated.

Thanks!!

4. Originally Posted by .Twilighted.
Wow.Thanks.
I Had Gotten \$2916 First But I Had Just Played Around With Numbers And I Didn't Know The Way To Get To The Answer.
Your Help Is Much Appreciated.

Thanks!!
no problem.