# Thread: Percent of the Profits

1. ## 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?

2. ## Re: Percent of the Profits

Originally Posted by harpazo
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).

3. ## Re: Percent of the Profits

Originally Posted by Debsta
Try again and make sure you read the question carefully (see red).
Must I convert billions to millions or vice-versa?

4. ## Re: Percent of the Profits

Originally Posted by harpazo
Must I convert billions to millions or vice-versa?
Doesn't matter. What matters is that they are in the same units.

5. ## Re: Percent of the Profits

Originally Posted by Debsta
Doesn't matter. What matters is that they are in the same units.
Can you set it up for me?

6. ## Re: Percent of the Profits

Originally Posted by harpazo
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 = $\displaystyle \frac{employee \: benefits}{profits} * 100\% =$ ...

7. ## Re: Percent of the Profits

Originally Posted by Debsta
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.