Suppose that in 2012, ABC Industries earned a profit of $1400. You know that in 2012 profits grew by 40% from their 2011 level. Also in 2011, profits grew by 25% from their 2010 level. What is The sum of the profits of 2010 and 2011?
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Answer:
$1,800
Step-by-step explanation
Profit in 2012 = 1400 which is 40% from 2011
Profit in 2011 = 'x' which is 25% from 2010
Profit in 2010 = 'y'
2010 + 2011 = x + y = ?
Solving for x
1400=x(0.40)+1
1400=x(1.40)
1400/1.40=x
1000=x
Solving for y
1000=y(0.25)+1
1000/1.25=y
800=y
x+y = 2010 + 2011 = 1000 + 800 = 1800
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