the parts department profit is 15% on a new altimeter. the selling price of the altimeter is $759. what did…

the parts department profit is 15% on a new altimeter. the selling price of the altimeter is $759. what did the parts department originally pay for that altimeter? (nearest whole number)

the parts department profit is 15% on a new altimeter. the selling price of the altimeter is $759. what did the parts department originally pay for that altimeter? (nearest whole number)

Answer

Explanation:

Step1: Set up the profit - cost formula

Let the cost price (the amount the parts department originally paid) be $x$. The profit percentage is 15%, so the selling price is the cost price plus 15% of the cost price. Mathematically, $759=x + 0.15x$.

Step2: Simplify the right - hand side of the equation

Combining like terms, we get $759=(1 + 0.15)x=1.15x$.

Step3: Solve for $x$

Divide both sides of the equation by 1.15: $x=\frac{759}{1.15}$.

Step4: Calculate the value of $x$

$x=\frac{759}{1.15}=660$.

Answer:

$660$