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Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him? The sales price of a car is $12,590, whic
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Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him? The sales price of a car is $12,590, whic

User Gal Sosin
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1 Answer

1 vote

Answer:

The cost price of the statue is $ 496

Step-by-step explanation:

Sale Price of statue = $ 670

Suppose the cost price is $ 100 then according to the given condition the sales price would be $ 135

Sale Price = Cost Price + Profit

135= 100 +35

Applying ratios

Sale Price Cost Price

$670 x

135 100

Using cross product rule

x= $670 * 100/135

x= $ 496.29

User Tyler Hamsmith
by
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