Question

A major record label has seen its annual profit decrease in recent years. In 2011, the label's profit was $128 million. By 2015, the label's profit had decreased by 30%.What was the record label company's profit in 2015? million dollars   Suppose the record label wants to increase its profit to $128 million by 2017. By what percent must the label's profit increase from its 2015 value to reach $128 million within the next two years? %

Answer 1

the company's profit in 2015 was $89,600,000 (89.6 million dollars)

43%

Step-by-step explanation:

Profit in 2011 = $128 million

Profit in 2015 decreased by 30%

% decrease = (old price - new price)/old price

old price = Profit in 2011 , new price = Profit in 2015

30% = (128,000,000 - new price)/128000000

`\begin{gathered} 30percent=\text{ }(128,000,000 -newprice)/(128000000) \\ 0.30\text{ = }(128,000,000-newprice)/(128000000) \\ \text{cross multiply:} \\ 0.3(128,000,000)\text{ = }128,000,000-newprice \end{gathered}`
`\begin{gathered} 38400000\text{ = }128,000,000-newprice \\ \text{subtract }38400000\text{ from both sides:} \\ 38400000-\text{ }38400000\text{ = }128,000,000-38400000-newprice \\ \text{0 = 89600000 }-newprice \\ newprice\text{ = 89600000 } \end{gathered}`

Hence, the company's profit in 2015 was $89,600,000 (89.6 million dollars)

Percentage increase = (new price - old price)/old price

new price = 128million dollars , old price = 89.6 million dollars

% increase = [(128 - 89.6)in millions/(89.6) in millions] × 100

% increase = 38.4/89.6 × 100

% increase = 0.43 × 100

% increase = 43%

Hence, the label's profit must increase by 43% from its 2015 value to reach $128 million within the next two years