Question

Jerome is a co- owner of a small company and received 1/3 of the company's profits this year, What were the company's overall profits if Jerome made $150,000? Write an equation and solve

Answer 1

Jeromes profit = y

Companys overall profit = x

so equation would be y=(1/3)x

so y = 150000 so need to calculate x

150000= (1/3)x

divide both sides by (1/3) to get x = 450,000

so the companys profit was 450000