Question

A company makes a profit of $1.38 million. This is $2.54 million more than last year. Write and solve an equation to find the profit p (in millions of dollars) last year. An equation is =1.38.

Answer 1

Answer: The profit from 2021 = $ -1.16 Million ($1.16 Million loss)

Explanation:

Profit for 2022 = $ 1.38 Million

Profit for 2021 = Profit for 2022 - $ 2.54 Million

Algebraic equation:

p2021 = p2022 -$ 2.54 Million

p2021 = $ 1.38 Million - $ 2.54 Million

p2021 = $ -1.16 Million

Answer 2

Answer: Required equation : 1.38 = p +2.54

Last year profit = $ -1.16 million or we can say loss =$ 1.15 million

Explanation:

Given : A company makes a profit of $1.38 million. This is $2.54 million more than last year.

Profit this year = 2.54 + Profit in last year

Let p = profit (in millions of dollars) last year.

Then, 1.38 = p +2.54 , is the required equation.

⇒ p = 1.38-2.54

⇒ p= -1.16, which is loss because of negative sign.

Hence, last year profit = $ -1.16 million or we can say loss =$ 1.15 million