Question

In its second year of operation, a local Internet provider's profits were $174,500. If this amount was 576% of the company's first-year profits, find the first-year profits (to the nearest hundred dollars).

Answer 1

The first year profits is $30300.

Explanation:

Consider the provided information.

The second year of operation, a local Internet provider's profits were $174,500. This amount was 576% of the company's first-year profits.

Let x represents the first year profit.

Therefore 576% of x is $174,500

`(576)/(100)* x=174500`

`x=174500* (100)/(576)`

`x\approx 30295.14`

`x\approx30300` (Round to nearest hundred dollar)

Hence, the first year profits is $30300.