Question

Two friends start a business. Together they spent 800 dollars for their initial inventory. They will sell all of their initial inventory for a profit, which will be split evenly among themselves. If each friend makes a profit if 980, what was their initial selling price of the inventory?

Answer 1

Their selling price was 2.45 times the price they bought it. If they split the profit evenly and there was two of them, multiply their profit by two and divide that number by 800 to find how much more they sold it for, so they sold it for 245% more than they bought it