Problema Solution
Due to a slump in the economy, a mutual fund has dropped by 30% from last year to this year. If the fund is now worth $13902, how much was the fund worth last year?
Answer provided by our tutors
Let the original value be x
Equation will become like this,
X - 30%ofx = 13902
X - 30x/100 = 13902
70x/100 = 13902
70x = 1390200
X = 1390200/70
X = $19860
The original value was X = $19860