An accountant earns $3180 per month after receiving a 8.5% raise. What was the accountant's monthly income before the raise? Round your answer to the nearest cent.
What i thought you did was 3180*8.5%=270.3
3180-270.30=2909.70, but it says its not correct. Any ideas on how to do this
Let x = the income before the raise. The accountant is making 1.085 more now.
1.085x = 3180
x = 2930.88
I understand how to set it up I just don't understand why its 1.085. I thought it was just .085. why is the 1 there?
The 1 is 100%. The accountant is making 100% of his previous salary plus 8.5% more.
100% + 8.5% = 108.5% = 1.085
Oh Okay now i understand why the 1 is there! Thank you so much!!!
You're very welcome, Chelsea/Kayla.
To solve this question, we need to find the accountant's monthly income before receiving the raise. Here's how you can approach it:
1. Start by setting up an equation to represent the problem. Let's denote the accountant's monthly income before the raise as "x".
2. Apply the 8.5% raise to the accountant's previous income, which is equal to adding 8.5% of "x" to "x". This can be calculated by multiplying "x" by 1 + (8.5% / 100), or 1 + 0.085.
Therefore, the new income after the raise is 1.085x.
3. We are given that the new income after the raise is $3180. So, we can write the equation:
1.085x = 3180
4. Now, solve the equation for "x". Divide both sides of the equation by 1.085:
x = 3180 / 1.085
Using a calculator, this calculation gives us:
x ≈ 2932.48
5. Round the answer to the nearest cent:
The accountant's monthly income before the raise was approximately $2932.48.
So, the correct answer is $2932.48.