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A company’s profit in March was $15,600. If the cost of oper
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28 Sep 2017, 11:12
28 Sep 2017, 11:12
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A company’s profit in March was $15,600. If the cost of operating the business in March was one third of the revenue gained, how much revenue, in dollars, did the company collect that month?
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$ 23400
Re: A company’s profit
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30 Sep 2017, 05:47
30 Sep 2017, 05:47
1
Profits = revenues - costs.
Then costs are equal to \(\frac{1}{3}\)revenues so we can substitute in the formula to get 15,600 = revenues - \(\frac{1}{3}\)revenues = \(\frac{2}{3}\)revenues.
Then, the revenues = 15,600*\(\frac{3}{2}\), i.e. 23,400$
Then costs are equal to \(\frac{1}{3}\)revenues so we can substitute in the formula to get 15,600 = revenues - \(\frac{1}{3}\)revenues = \(\frac{2}{3}\)revenues.
Then, the revenues = 15,600*\(\frac{3}{2}\), i.e. 23,400$
gmatclubot
Re: A company’s profit [#permalink]
30 Sep 2017, 05:47
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