Question

A business entrepreneur wants to borrow $238 to start a business. After one year the business earned an income of $107. Calculate the percentage of the income based on the amount used to start the business.

Answer 1

Statement Problem: Calculate the percentage of the income based on the amount used to start the business.

Solution:

`\begin{gathered} \text{Starting Capital = \$238} \\ \text{Income earned after a year = \$107} \end{gathered}`

The percentage income is;

`percentage\text{ income}=\frac{income\text{ earned}}{starting\text{ capital}}*100`

Thus, we have;

`\begin{gathered} percentage\text{ income}=(107)/(238)*100 \\ percentage\text{ income}=44.96 \\ percentage\text{ income}\cong45\text{ \%} \end{gathered}`