Seven-Eighths of Jim Whyte's Inventory Was Destroyed by Fire

question 24

Essay

Seven-eighths of Jim Whyte's inventory was destroyed by fire. He sold the remaining part, which was slightly damaged, for one-third of its value and received $1400.
a) What was the value of the destroyed part of the inventory?
b) What was the value of the inventory before the fire?

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Definitions:

Organization

A structured group of people who work together to achieve a particular goal, often structured in a specific way to facilitate that goal.

Membrane-Bound Nucleus

A defining feature of eukaryotic cells, an enclosed nucleus separates the genetic material from the cytoplasm.

Archaea

A class of unicellular microbes that have genetic distinctions from bacteria and eukaryotes, typically encountered in environments with extreme conditions.

Eukarya

One of the three domains of life, comprising organisms with complex cells containing a nucleus, such as plants, animals, fungi, and protists.