Question

This year, a small business has a total revenue of $63, 500. If this is 27% more than their total revenue the previous year, what was their total revenue the previous year?

Answer 1

63.500 x 27% = 17.145   63.500 +17.145=$80.645

Answer 2

Hey! Let me help you on this one.

Let's break this equation apart to better understand it!

We know that this year's revenue is $63,500, and we also know that this is 27% more than last year's revenue.

We don't know what was the last year's revenue, so let's mark this unknown variable as $R$.

Now, time for fun stuff! Let's form an equation.

$R*1.27=63500$

As you can see, 1.27 is a decimal form of 127% - this year's revenue compared to last year's revenue.

Let's solve this! First, we need to divide 1.27 from both sides.

$R*(1.27/1.27) = 63500/1.27$

Now, we need to simplify it. 

$R = 50000$

As we have mentioned before, R is the amount of money this company has received for the last year. 

Answer: Their total revenue for the previous year is $50,000.