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Math Help - [SOLVED] Correct Method To Get To Cost Price

  1. #1
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    Question [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?
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  2. #2
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    Quote Originally Posted by .Twilighted. View Post
    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
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  3. #3
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    Talking

    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!!
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  4. #4
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    Quote Originally Posted by .Twilighted. View Post
    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.
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