Question

A corporation reported profit of approximately $1500 million with approximately $24,300 million in revenues. Compare the profit to revenue by writing as a fraction in the lowest terms

Answer 1

`(5)/(81)`

Explanation:

Given:

Profit = $1500 million

Revenue = $24,300 million

Profit to Revenue =
`(1500 million)/(24,300 million)` [Since they both have same unit ($), this sign can be omitted]

Now let's reduce the ratio above to its lowest terms...

`(1500 million)/(24,300 million)`

[First, the millions at the numerator and denominator cancel out]

`(1500)/(24,300)`

[Next, the two zeros at the numerator and denominator cancel out]

`(15)/(243)`

[Next, divide both the numerator and denominator by 3]

`(5)/(81)`

Since no further division can be done, then the profit to revenue is in its lowest terms as
`(5)/(81)`