Question

"At ​$1.29 million​, they closed last month for...26 percent above what they paid in​ 2007." How much did they pay in​ 2007?

Answer 1

The amount they paid in 2007 is:

$ 1.02381 million

Explanation:

Let the amount paid by them in 2007 be: $ x

Now, it is given that:

"At ​$1.29 million​, they closed last month for...26 percent above what they paid in​ 2007."

i.e.

`(100+26)\%\ of\ x=1.29\\\\i.e.\\\\(126)/(100)* x=1.29\\\\i.e.\\\\x=(12.9* 100)/(126)\\\\i.e.\\\\x=\$\ (129)/(126)\ millon\\\\i.e.\\\\x=\$\ 1.02381\ million`

Answer 2

Answer: Amount that they paid in 2007 is 1.01 millions.

Explanation:

Since we have given that

Number of millions paid last month = $1.29 millions

According to question, it was 26% above what they paid in 2007.

Let the amount paid in 2007 be x

So, our equation becomes,

`(100+27)/(100)* x=1.29\\\\(127)/(100)* x=1.29\\\\1.27* x=1.29\\\\x=(1.29)/(1.27)\\\\x=1.01\ millions`

Hence, Amount that they paid in 2007 is 1.01 millions.