Question

The profit of Mythological Company last year was $100,000. This year's profit decreased by 2.9%. Find this year's profit.

Answer 1

Remember that

100%-2.9%=97.1%=97.1/100=0.971

To find out this year's profit, multiply last year's profit by the factor of 0.971'

so

$100,000*0.971=$97,100

the answer is $97,100