Question

A company makes a profit of $1.38 million. This is $2.54 million more than last year. Write and solve an equation to find the profit p (in millions of dollars) last year.

Answer 1

Loss of $1.16 millions.

Explanation:

It is given that the profit made by company is $1.38 million

It is $2.54 million higher than the last year.

The last year profit which is represented by (p) can be calculated as:

p = Current year profit - 2.54

p= 1.38 - 2.54

p = -1.16

This mean last year there was a loss of $1.16 millions last year in company.