Question

A computer chip manufacturer had net sales of $350 million with returns equal to 1/50 of gross sales. Find gross sales rounded to the nearest million given the net sales equals gross sales less returns

Answer 1

We are given:

Net Sales = Gross Sales - Returns

Or,

`NS=GS-R`

Given,

Net Sales = 350,000,000

Return = (1/50th) Gross Sales

Let's find Gross Sales:

`\begin{gathered} NS=GS-R \\ 350,000,000=GS-(1)/(50)GS \\ 350,000,000=(49)/(50)GS \\ GS=(350,000,000)/((49)/(50)) \\ GS=350,000,000*(50)/(49) \\ GS\approx\$357,142,857.14 \end{gathered}`

Gross Sales is approximately $357, 142, 857. 14

Rounded to nearest million:

$357,000,000 (357 million)