Jim is able to sell a hand-carved statue for $620 which was a 25% profit over his cost. How much did the statue originally cost him?
Pick:  A) $ 496.00  B) $ 512.40  C) $ 555.40  D) $ 574.90  E) $ 588.20

Rationale: "620 = 1.25 * x x = 620 / 1.25 = 496.00 which rounds to $ 496.00 , which is ( a ) ."
Answer: A