Question

if $168.00 is the profit on a job, and this represents 8%of the contract price,what is the contract price?

Answer 1

We are told that $168.00 represents 8% of the contract price; therefore,we know that

original price *( 8/100) = $168.00

Now, writing out "original price" is a bit space-consuming; therefore, we will just rename it and say

original price = OP

Then, our equation above can be written as

`OP*(8)/(100)=168`

We solve for OP (original price) by multiplying both sides by 100 and then dividing by 8. This gives us

`OP=(100)/(8)*168`
`\textcolor{#FF7968}{\therefore OP=2100}\text{\textcolor{#FF7968}{.}}`

Hence, the original contract price is $2100.