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Math Help - Can't Find Cost Price

  1. #1
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    Can't Find Cost Price

    I can't find the proper working for this. If you know how to get to the answer, could you show your steps for working? Thanks.

    Problem:
    Jake sells his car for $3500. He makes 20% profit. What was the price Jake bought the car for?
    Last edited by .Twilighted.; February 4th 2009 at 08:31 PM.
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  2. #2
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    Quote Originally Posted by .Twilighted. View Post
    I can't find the proper working for this. If you know how to get to the answer, could you show your steps for working? Thanks.

    Problem:
    Jake sells his car for $3500. He makes 20% profit. What was the price Jake bought the car for?
    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/cist price is \$2916.66
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