This year, a small business had a total revenue of
$23,100
. If this is
32%
more than their total revenue the previous year, what was their total revenue the previous year?
Let X be the total revenue of the previous year.
According to the problem, we know that:
23,100 = X + 0.32X
Simplifying and solving for X:
23,100 = 1.32X
X = 17,500
Therefore, the total revenue of the previous year was $17,500.
To find the total revenue of the small business the previous year, we can set up the following equation:
Previous year's revenue + 32% of the previous year's revenue = $23,100
Let's represent the previous year's revenue as "x":
x + 0.32x = $23,100
To solve this equation, we can combine like terms:
1.32x = $23,100
Next, we'll divide both sides of the equation by 1.32 to isolate x:
x = $23,100 / 1.32
Calculating this, we find:
x ≈ $17,500
Therefore, the total revenue of the small business the previous year was approximately $17,500.