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?

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- Feb 4th 2009, 08:20 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, 12:38 AMprincess_21
$\displaystyle P+B=3500$

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 $\displaystyle \$2916.66$