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A jewelry dealer initially offered a bracelet for sale at an [#permalink]
11 Apr 2008, 19:48

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A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet? (1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403. (2) The jewelry dealer sold the bracelet for $1,953.

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet? (1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403. (2) The jewelry dealer sold the bracelet for $1,953.

hmm, for 2 i thought that 1.4x = 1953? why is it not sufficient?

There are two different prices: initially offered and "sell" price.

el1981 wrote:

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet? (1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403. (2) The jewelry dealer soldthe bracelet for $1,953.

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