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?
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?
$\displaystyle P+B=3500$
the percentage(interest) + the original price(base) = $3500
remember the to find the original price divide the percentage by the rate.
$\displaystyle B=\frac{P}{R}$
to find the percentage multiply rate by the original price
$\displaystyle P=\frac{R}{B}$
$\displaystyle P+B=3500$
substitute P with R*B. interms of rate and base
$\displaystyle R*B+B=3500$
$\displaystyle 0.20*B+B$
$\displaystyle 1.20B=3500$
$\displaystyle B=\$2916.66$ original price
check
$\displaystyle \$2916.66*.20=583.33$ = P
$\displaystyle B+P=\$3500$
$\displaystyle \$2916.66+583.33=\$3499.99$ or $\displaystyle \$3500$
this is how i solved it,
the original price/cist price is $\displaystyle \$2916.66$