Question

In 2019, Americans spent on average $157 on Valentine's Day which is an increase of 16% from the prior year. What did Americans spend on Valentine's Day in 2018? (Round your answer to the nearest cent)

Answer 1

Let

x ----> amount spend on Valentine's Day in 2018

so

Remember that

100%+16%=116%=116/100=1.16

the linear equation that represents this situation is

1.16x=157

Solve for x

x=157/1.16

x=$135.34 ------> amount spend on Valentine's Day in 2018