Find Original Cost

[nycmath]

If a store earns a 20% profit by selling an item for $36, what was the original cost of the item?

A) $28.60
B) $30.00
C) $32.20
D) $33.00
E) $34.00

[Eigenvalue]

let p be the original price of the item
20% profit[tex]\rightarrow[/tex]1.2p
1.2p=36
p=30
the item's original cost is $30