Claire sells her stamp collection for $1600. With a given 25% profit from the amount she bought it for 2 years ago. What’s the original price?

Question

Claire sells her stamp collection for $1600. This gives her a 25% profit on the amount she bought it for, 2 years ago. What was the original price she paid for it?

Answer 1

P(1.25)=1600

 

P = 1600/1.25 = 1280