Answer:
$33,125
Explanation:
You want to know Liu Fan's salary 3 years ago if it is 12% higher now, and his salary now is $37,100.
Multiplier
The multiplier of Fan's old salary is (1 +12%) = 1.12. So, the salary relation is ...
current salary = 1.12 × old salary
old salary = (current salary)/1.12 = $37,100/1.12 . . . divide by the multiplier
old salary = $33,125
Liu Fan's salary 3 years ago was $33,125.
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