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Thread: Percent of the Profits

  1. #1
    Super Member harpazo's Avatar
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    Percent of the Profits

    A corporation that had 115.19 billion dollars in profits for the year paid out 230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? Note: 1 billion = 10^9.

    Let x = percent of the profits

    115.19x = 230.10

    This equation led to my answer of 2 percent.
    The book's answer is 0.2 percent. Why is my answer wrong?
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    Re: Percent of the Profits

    Quote Originally Posted by harpazo View Post
    A corporation that had 115.19 billion dollars in profits for the year paid out 230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? Note: 1 billion = 10^9.

    Let x = percent of the profits

    115.19x = 230.10

    This equation led to my answer of 2 percent.
    The book's answer is 0.2 percent. Why is my answer wrong?
    Try again and make sure you read the question carefully (see red).
    Thanks from harpazo
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  3. #3
    Super Member harpazo's Avatar
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    Re: Percent of the Profits

    Quote Originally Posted by Debsta View Post
    Try again and make sure you read the question carefully (see red).
    Must I convert billions to millions or vice-versa?
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    Re: Percent of the Profits

    Quote Originally Posted by harpazo View Post
    Must I convert billions to millions or vice-versa?
    Doesn't matter. What matters is that they are in the same units.
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  5. #5
    Super Member harpazo's Avatar
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    Re: Percent of the Profits

    Quote Originally Posted by Debsta View Post
    Doesn't matter. What matters is that they are in the same units.
    Can you set it up for me?
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    Re: Percent of the Profits

    Quote Originally Posted by harpazo View Post
    A corporation that had 115.19 billion dollars in profits for the year paid out 230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? Note: 1 billion = 10^9.

    Let x = percent of the profits

    115.19x = 230.10

    This equation led to my answer of 2 percent.
    The book's answer is 0.2 percent. Why is my answer wrong?
    Profit = 115.19 billion dollars = 115.19 x 10^9 dollars

    Employee benefits = 230.10 x 10^6 dollars

    Approximately what percent of the profits were the employee benefits:

    % of Profit = $\displaystyle \frac{employee \: benefits}{profits} * 100\% = $ ...
    Last edited by Debsta; Feb 12th 2019 at 09:33 PM.
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    Super Member harpazo's Avatar
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    Re: Percent of the Profits

    Quote Originally Posted by Debsta View Post
    Profit = 115.19 billion dollars = 115.19 x 10^9 dollars

    Employee benefits = 230.10 x 10^6 dollars

    Approximately what percent of the profits were the employee benefits:

    % of Profit = $\displaystyle \frac{employee \: benefits}{profits} * 100\% = $ ...
    I will take it from here.
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