# Can't Find Cost Price

• Feb 4th 2009, 09:20 PM
.Twilighted.
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? • Feb 5th 2009, 01:38 AM princess_21 Quote: Originally Posted by .Twilighted. 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.

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 $\2916.66$