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Question

What did the owners originally pay for their home if they sold it for $298,672 which gave them a 12% profit over their original cost?

Answer 1

Since they got a 12% profit over the original cost, their sell price of $298,672 is 12% than their original cost. In other words, sell price is 1.12 times the original cost

 

298,672 = 1.12x

x= 266,671.43