Question

A company makes a profit of $1.38 million. This is $2.54 million more than last year. What was the profit last year?

The answer also asks for us to fill in the blank; "The profit last year was $__ million, so I need help filling in the blank.​

Answer 1

Answer: -1.16

The "million" part is already taken care of by your teacher.

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Step-by-step explanation:

x = profit last year (millions of dollars)

x+2.54 = profit this year, which is 2.54 million more than last year

x+2.54 = 1.38

x = 1.38-2.54

x = -1.16

The profit last year was -1.16 million dollars

This is the same as writing -1,160,000 dollars of profit.

A negative profit indicates that the company lost money. This is when the company is spending more than what they earn (i.e. they are in some kind of debt).