The profits from Ed’s Plumbing Co. increased by $14,460, or 30%, this year. What profit did the company earn last year?

Lipossig

Lipossig

Answered question

2021-02-09

The profits from Ed’s Plumbing Co. increased by $14,460, or 30%, this year. What profit did the company earn last year?

Answer & Explanation

funblogC

funblogC

Skilled2021-02-10Added 91 answers

Let x be the profit the company earned last year so:
30% of profit last year=increase this year
0.3x=14460
310x=14460
x=14460(10)3
x=48200
So, the company earned a profit of $48,200 last year.
Eliza Beth13

Eliza Beth13

Skilled2023-05-14Added 130 answers

To solve the problem, let's denote the profit earned last year as x. According to the given information, the profits increased by 14,460, or 30%.
We can set up the following equation to represent this situation:
x+0.30x=x(1+0.30)=x(1.30)=x·1.30
Now, we can solve this equation to find the value of x:
x·1.30=x+14,460
Subtracting x from both sides, we get:
0.30x=14,460
Dividing both sides by 0.30, we obtain:
x=14,4600.30
Therefore, the profit earned by the company last year was 48,200.
Don Sumner

Don Sumner

Skilled2023-05-14Added 184 answers

According to the given information, the profits increased by 14,460, or 30%.
We can represent this mathematically using the equation:
x+0.30x=x(1+0.30)=x(1.30)=x+0.30x
We can simplify the equation to:
1.30x=x+14460
Now, we can solve for x by subtracting x from both sides:
1.30xx=14460
0.30x=14460
To isolate x, we divide both sides by 0.30:
0.30x0.30=144600.30
x=144600.30
x=48200
Therefore, the profit earned by Ed's Plumbing Co. last year was 48,200.
madeleinejames20

madeleinejames20

Skilled2023-05-14Added 165 answers

Result:
48,200
Solution:
Plast year+0.30·Plast year=Plast year+14,460
Here, Plast year represents the profit earned last year.
Simplifying the equation, we have:
1.30·Plast year=Plast year+14,460
Now, let's solve for Plast year:
1.30·Plast yearPlast year=14,4600.30·Plast year=14,460Plast year=14,4600.30
Using a calculator or performing the division, we find:
Plast year=48,200
Therefore, Ed's Plumbing Co. earned a profit of 48,200 last year.

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