Question

Mateo is an unsuccessful bitcoin investor. He made a loss of 93% by selling a bitcoin for $637 . At what price did Mateo buy the bitcoin?

Plzzzzz solve someone​

Answer 1

Answer:

Mateo buyed bitcoin for $9100

Step-by-step explanation:

let the CP be X.

CP - loss= SP

X - 93X / 100 = 637

7X / 100 = 637

X = $9100

Answer 2

Answer:

$9100

Step-by-step explanation:

A 93% loss just means that the loss equals 93% of the cost price.

Loss = 93% * Cost Price

SP = CP − loss

SP = CP − 93% of CP

We can write CP as 100% of CP.

SP = 100% of CP−93% of CP

SP = 7% of CP

Now, let's calculate the cost price.

$637 = 7% of CP

$637 = 7% of CP$637 = 7/100*CP

100/7*$637=CP

Mateo bought the Bitcoin at a price of $ 9100.

bought the Bitcoin at a price of $ 9100.