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| Math Central | Quandaries & Queries |
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Question from tashana, a student: By selling an article for $\$320,$ the profit was 20% of the cost price. What was the cost price of the article? |
Hi Tashana,
You can use the information in your problem to create an equation.
The selling price is the sum of the cost and the profit. You don't know the cost so I am going to call it $\$C.$ The profit is 20% of the cost so the profit is $0.20 \times \$C.$ The equation is then that $\$320$ is the sum of $\$C$ and $0.20 \times \$C.$ Solve for $\$C.$
Penny
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