An accountant earns 3,440 per month after receiving a 5.5% raise. What was the accountants monthly income before the raise. round to nearest cent.
1.055 x = 3440.
Solve for x
x = 3440/1.055 = ____
3260
To find the accountant's monthly income before the raise, we need to work backwards from the amount earned after receiving the raise.
Let's denote the accountant's monthly income before the raise as "x".
After receiving a 5.5% raise, the accountant's monthly income becomes 3,440.
We can set up the following equation:
x + 5.5% of x = 3,440
To express the 5.5% raise as a decimal, we divide it by 100:
x + 0.055x = 3,440
Combining like terms, we have:
1.055x = 3,440
Now, to isolate x, we divide both sides of the equation by 1.055:
x = 3,440 / 1.055 ≈ 3,257.82
Therefore, the accountant's monthly income before the raise was approximately $3,257.82.