Hand Carved

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How to find an original price from the profit and percentage?

I've tried everything I can think of and I really don't get how to do this problem. Could someone explain it step by step so I can understand.

Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?

I also know that the answer is $496.30 and don't get how to get there.
thanks!
where does the 1.00 come from?

The cost is C. His profit is (C times .35).

So the Sell is the cost plus the profit, or C + .35 x C, which is (1.00 + .35) x C, or 1.35 x C = 670.

So 670/1.35 = 496.30 = C

To check: 496.30 + 173.70 = 670

Additional info: C=1.0 x C=1C The 1.00 is 100%

Easy way to see the 1 --> Sell price is the cost of the product times the profit % added to the original cost, or C + p*C = c(1+p). If p is 100% profit, and cost is $5, then you have $5 + 1.00*$5= $5(1+1) = $10.

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